Exceptional Turn-Key Triplex in St. Thomas! 241 Ross St offers an outstanding cashflow opportunity, featuring a fully renovated three-unit property situated in a desirable and well-established neighbourhood. The property is fully leased with quality tenants and offers separately metered units. Each unit showcases bright, updated interiors with high ceilings, and the property includes parking for up to four vehicles. This is a clean, low-maintenance asset delivering immediate and stable cash flow, with the added flexibility for an owner to occupy one of the units if desired. Importantly, the property achieves a TRUE 7% CAP RATE, calculated conservatively and inclusive of maintenance, professional property management, and vacancy allowance, offering investors a realistic and properly underwritten return, with additional upside potential for a self-managed buyer who can retain the management costs. There is also the opportunity for an owner-occupant to move into one of the units while generating cash flow from the remaining suites, making it an attractive option for both investors and those looking to offset their housing costs. Additionally, there is potential to create a fourth unit in the basement (subject to required zoning approvals and permits), presenting approximately $100K profit potential and further enhancing the overall upside of the investment. Buyer to complete their own due diligence regarding zoning, approvals, feasibility, and financial projections.
Address
241 Ross Street
List Price
$849,999
MLS® Status
New
Expiration Date
2026-08-20
Property Type
Commercial
Type of Dwelling
Investment
Transaction Type
Sale
Area
St. Thomas
Region
Elgin
Bedrooms (Total)
8
Lot Size Source
GeoWarehouse
Lot Depth
55.2
Lot Type
Lot
Lot Size Units
Feet
Lot Width
48.19
Parcel Number
352190022
Total Building Area
2928.83
Occupant Type
Tenant
Cross Street
Ross St and Wellington St
MLS® Number
X12805024
Listing Brokerage
EXP REALTY
Basement
Yes
Postal Code
N5R 3Y5
Parking Spaces
5
Tax Amount
$3,211.00
Tax Year
2025
Site Influences
Public Transit
Community Features
Public Transit
Standard Status
Active
Board Or Association
London and St. Thomas Association of REALTORS
Heat Type
Gas Forced Air Closed
Cooling Features
Yes
New Construction
No
UFFI
No
Garage Type
Other
Tax Legal Description
PT LT 88 PL 86 YARMOUTH AS IN STH70653 S/T & T/W STH70653; ST. THOMAS