A fantastic opportunity to own a fully legal and vacant extensively upgraded 4-plex where you can set your own rent in the fast-growing city of St. Thomas. This building offers a desirable unit mix of one 4-bedroom unit, two 3-bedroom units, and one 2-bedroom unit. Nearly every major component has been updated over the past 10 years, including new kitchens, modernized electrical (100 amps per unit), full waterproofing (interior & exterior), refinished floors (2024), updated roof (50 year shingles) and windows, fresh paint (2024), three units have updated bathrooms and updated exterior doors on all units. Additional highlights include basement storage, in-unit laundry potential, owned water heaters (x4), municipal sewer connection, and the potential for a 5th unit in the basement. Situated on a large 0.61-acre lot with significant under-utilized land offering potential for future units, parking, or storage (concepts for up to 16 units supported by recent planning study; zoning amendment required). Ideally located minutes from parks, schools, shopping, and downtown amenities with quick access to London and Hwy 401. St. Thomas is an affordable, rapidly growing community with major new employers (Volkswagen EV plant, Amazon, Magna), a revitalized downtown core, and strong long-term rental demand an ideal turnkey investment with future upside.
Address
50 Fairview Avenue
List Price
$1,149,000
MLS® Status
New
Expiration Date
2026-01-16
Property Type
Commercial
Type of Dwelling
Investment
Transaction Type
For Sale
Area
St. Thomas
Region
Elgin
Lot Size Source
GeoWarehouse
Lot Depth
249.22
Lot Type
Lot
Lot Size Units
Feet
Lot Width
55.16
Parcel Number
352080100
Total Building Area
0.61
Occupant Type
Vacant
Cross Street
Talbot St
MLS® Number
X12331195
Listing Brokerage
EXP REALTY
Postal Code
N5R 4X6
Posession Details
Immediate
Tax Amount
$4,991.00
Tax Year
2024
Standard Status
Active
Board Or Association
London and St. Thomas Association of REALTORS
Heat Type
Gas Forced Air Open
Cooling Features
Yes
Garage Type
None