40 Barnes Street,St. Thomas, ON N5R2V5
St. Thomas, ON N5R2V5
Description
INVESTMENT OPPORTUNITY AWAITS - This turnkey Duplex with a legal basement apartment is located on a large 70' wide lot on a quiet street in the heart of St Thomas and close to all amenities. MAIN FLOOR UNIT - Accessed through the side door, this unit features 2 Bedrooms, Livingroom, Kitchen with Refrigerator and Stove included, and 4 Piece Bath - Currently vacant but lease potential of $1,800 per month Plus 1/2 Hydro. UPPER UNIT - Accessed through the front door, this unit features 2 Bedrooms, Livingroom, Kitchen with Refrigerator and Stove included and a 3 piece Bath - Currently leased at $1,550 per month on a month - month basis plus hydro. BASEMENT UNIT - Access is through the rear door and features 1 Bedroom with a fire coded egress window, Livingroom, Kitchen with Refrigerator and Stove included, and a 3 Piece Bath - Currently rented at $1,050 per month + 1/2 hydro. UTILITIES - Landlord pays for Enbridge gas heat and common hydro usage, 3 electrical meters - one for upper, one for main and basement and 1 for common area and the 3 Hot water tanks are owned. OUTSIDE - The double wide paved drive is large enough to handle 3-4 vehicles with access to the Garage for storage of lawn equipment. LAUNDRY - A condensing Washer and Dryer unit is located in each unit for use by the tenants. SAFETY - Smoke and CO Detectors on all 3 levels are linked to provide added safety. INCOME AND EXPENSES - Based on 2025 costs - Insurance $2,787.92, Enbridge Gas $1,079.36, Property Taxes $2,738.00, Entegrus hydro/water/sewer $1,152 offering a 7.5% CAP Rate. ADDITIONAL RESIDENTIAL UNITS - Explore adding Additional Residential Units in the rear / side yard or possibly severing the side yard to increase the investment potential of this property. NEXT STEPS - With the explosive growth happening in St Thomas, don't wait to schedule an appointment today to checkout your next invest opportunity (id:13843)
Details
| MLS # | X13536296 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 121 |
| Listing Provided By | COLDWELL BANKER STAR REAL ESTATE | EARL TAYLOR |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 1,100 |
| Garage | 5 |
| Basement | Y |
| Story(s) | 2 |
| Zoning | R4 |
Interior
| Cooling | None |
|---|---|
| Heating | Forced air, Natural gas |
| Appliances | Washer, Water meter, Dryer, Water Heater |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Irregular lot size |
|---|---|
| Foundation Details | Block, Concrete |
Parking
| Parking Features | Detached Garage, Garage |
|---|---|
| Parking Total | 5 |
Utilities
| Utilities | Sewer, Electricity, Cable |
|---|---|
| Sewer | Sanitary sewer |
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 2738 |
|---|---|
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| City | St. Thomas |
| Postal Code | N5R2V5 |
| Listing VS Median (in N5R2V5) | |
Price: $599,900 low | high Med: $599,900 sqft: 1,100 low | high Med: 1,100 $ / sqft: $545 low | high Med: $545 On site: 121 low | high Med: 121 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | St. Thomas |
| Postal Code | N5R2V5 |
| Listing VS Median (in N5R2V5) | |
Price: $599,900 low | high Med: $599,900 sqft: 1,100 low | high Med: 1,100 $ / sqft: $545 low | high Med: $545 On site: 121 low | high Med: 121 | |
