Welcome to this two-storey home in the heart of St. Thomas an excellent investment opportunity for those looking to expand their real estate portfolio or secure a promising fixer-upper at an attractive price and 6.5% cap rate. Currently tenanted, the property offers immediate rental income, making it a smart choice for investors. Zoned R3, there is also potential for future development or expansion, adding long-term value to this versatile asset. The home features 5 bedrooms and 2 bathrooms, offering ample space and functionality. Located in a desirable area with established rental income and room for future growth, this property is a strong addition to any investment strategy. Whether you're looking for immediate returns or long-term upside, this St. Thomas opportunity is worth your consideration.
Address
45 Locust Street
List Price
$279,900
MLS® Status
Extension
Expiration Date
2025-11-03
Property Type
Residential Freehold
Type of Dwelling
Detached
Style of Home
2-Storey
Transaction Type
For Sale
Area
St. Thomas
Region
Elgin
Bedrooms
5
Bedrooms (Total)
5
Rooms Above Grade
10
Bathrooms
2
Floor Area
< 700 Sq. Ft.
Lot Size Source
GeoWarehouse
Lot Depth
120
Lot Shape
Rectangular
Lot Irregularities
34.39ft x 123.19ft x 34.39ft x 123.06ft
Lot Size Range (Acres)
< .50
Lot Size Units
Feet
Lot Width
34.67
Parcel Number
352190085
Occupant Type
Tenant
Cross Street
ROSS STREET
MLS® Number
X12192203
Listing Brokerage
RE/MAX CENTRE CITY REALTY INC.
Basement Area
Crawl Space
Postal Code
N5R 2C2
Posession Details
TENANTS
Parking
Mutual
Parking Places (Total)
2
Parking Spaces
2
Tax Amount
$2,596.00
Tax Year
2024
Exterior Features
Porch Enclosed
Interior Features
None
Cable
Yes
Central Vacuum
No
Family Room
Yes
Hydro
Yes
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Board Or Association
London and St. Thomas Association of REALTORS
Heat Source
Gas
Heat Type
Radiant
Cooling Features
None
Construction Materials
Vinyl Siding
Direction Faces
South
Fireplace
Yes
Foundation Details
Concrete, Block
Garage
No
Garage Type
None
Kitchens Total
1
Kitchens Above Grade
1
Pool Features
None
Roof
Asphalt Shingle
Tax Legal Description
PART OF LOT 1 BLOCK 9 PLAN 137 AS IN E432563; S/T & T/W E432563; S/T E213339; ST. THOMAS
Topography
Flat
Waterfront
No
Waterfront
None
Sewer
Sewer