207 Ross Street St. Thomas, Ontario N5R 3Y4
$1,299,000
Stress Free Investment Opportunity: 5 year old purpose built 12 plex - ENTIRE BUILDING IS FULLY LEASED by CMHA-Elgin until 2042 ( CMHA-Elgin fully responsible for ALL tenant dealings, vacancy loss and interior maintenance of all units- 100% occupancy rent paid monthly with automatic annual rent increases in accordance with rent increase guidelines of the RTA) Owned 10kw Microfit Solar Panel Installation (under contract until 2037), Entire Building constructed with emphasis on low maintenance + low energy consumption: Energy Star Windows, Energy Star Appliances (see chattel list), LED lighting throughout, low flush toilets, high efficiency boilers. Etc. Preferential Property Tax Reduction until 2042 (property tax savings of $9765.52 for 2020 tax season!) 12- One bedroom units (4 of which are barrier free) Controlled Entry, rear ramp with power assisted door, security camera system. Entire Building in as new condition. 2020 Gross Annual Income $82060.95, Net Income $50972.37 = Cap Rate of 3.92% (much better than any GIC) Building developed with assistance from Investment in Affordable Housing Initiative, Buyers agrees to assume obligations under IAH Agreement, which includes assuming existing Corporation that holds property, assumable mortgage of approx $229,000 but no additional financing can be added on title, CASH BUYER is required. Showings permitted with accepted offer only (id:29438)
Property Details
| MLS® Number | 40115899 |
| Property Type | Multi-family |
| Amenities Near By | Shopping |
| Communication Type | High Speed Internet |
| Equipment Type | None |
| Features | Laundry- Coin Operated |
| Rental Equipment Type | None |
Building
| Bathroom Total | 12 |
| Bedrooms Total | 12 |
| Basement Development | Finished |
| Basement Type | Full (finished) |
| Constructed Date | 2016 |
| Construction Style Attachment | Detached |
| Cooling Type | None |
| Exterior Finish | Vinyl Siding |
| Fire Protection | Smoke Detectors, Security System |
| Foundation Type | Poured Concrete |
| Heating Type | Hot Water Radiator Heat |
| Stories Total | 3 |
| Size Interior | 9726 |
| Utility Water | Municipal Water |
Parking
| Visitor Parking |
Land
| Acreage | No |
| Land Amenities | Shopping |
| Landscape Features | Landscaped |
| Sewer | Municipal Sewage System |
| Size Depth | 105 Ft |
| Size Frontage | 99 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Res |
Utilities
| Cable | Available |
| DSL* | Available |
| Electricity | Available |
| Natural Gas | Available |
| Telephone | Available |
https://www.realtor.ca/real-estate/23221766/207-ross-street-st-thomas
Interested in this property?
Claudio Baiocchi, REALTOR®
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
December 06 2021 03:39:22
London and St. Thomas Association of REALTORS®
Oliver & Associates Real Estate Brokerage Inc.
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