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Chelsea Mann

[email protected] +1(250) 852-0977

$ 1,250,000

Est. payment -/mo

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Active

331 ERIE STREET Central Elgin (port Stanley), ON N5L1E3

5 Beds

3 Baths

2,499 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,499 sqft

Price per Sqft $500

Subdivision Port Stanley

MLS® Listing ID X9035576

Bedrooms 5

Originating Board London and St. Thomas Association of REALTORS®

Property Description

Boost your real estate portfolio with this low-maintenance, high-yield investment opportunity! This 2,798 sq. ft. fully renovated triplex comes with a detached 20x33 double car garage on a spacious lot, offering long-term value and strong rental income. Fully tenanted by last Sept 1st with three excellent long-term tenants on one-year leases at current market rents, ensuring immediate cash flow. Low taxes enhance profitability, while extensive 2022 renovations include modern kitchens and baths, upgraded finishes, and original hardwood flooring throughout, with new flooring added where needed. Each unit has separate hydro meters and upgraded insulation, and the metal-clad exterior ensures durability with minimal upkeep. Dont miss this turnkey, worry-free investment! Unit #1: A spacious 3-bedroom, 1 full 4-piece bath home spanning approximately 1,200 sq. ft. over two levelsideal for families or professionals seeking ample living space.Unit #2: A cozy yet functional 1-bedroom, 1 full 3-piece bath unit covering approximately 675 sq. ft. across two levelsperfect for singles or couples.Unit #3: A bright and airy 1-bedroom + den, 1 full 4-piece bath unit with an open-concept layout on one floor, including a beautiful sunroomapproximately 700 sq. ft. of comfortable living. All units come equipped with in-suite laundry and full appliances. With immediate possession, the buyer will assume all current tenants, providing steady cash flow while offering the flexibility to convert units into high-revenue short-term rentals as they become available. This is a rare opportunity to maximize returns in a sought-after area. Legal Non-Conforming Triplex under R1 zoning. Seamless transition. Assume tenants and convert units as they vacate. 24-hour notice required for showings Serious inquiries only. Don't miss out on this versatile investment opportunity! See media tabs for more visual information. Book your showing asap! (id:24570)

Location

Province ON

Lake Name Erie

Rooms

Extra Room 1 Second level 1.16 m X 2.97 m Bathroom

Extra Room 2 Second level 4.36 m X 3.93 m Primary Bedroom

Extra Room 3 Second level 3.83 m X 4.04 m Bedroom

Extra Room 4 Second level 3.03 m X 2.72 m Bedroom

Extra Room 5 Second level 2.68 m X 2.13 m Bathroom

Extra Room 6 Second level 3.23 m X 3.87 m Bedroom

Interior

Heating Forced air

Cooling Central air conditioning

Exterior

Parking Features Yes

View Y/N Yes

View View of water, Lake view

Total Parking Spaces 8

Private Pool No

Building

Story 2

Sewer Sanitary sewer

Water Erie

Others

Virtual Tour https://unbranded.youriguide.com/331_erie_st_port_stanley_on/

Listed by CENTURY 21 FIRST CANADIAN CORP

Chelsea Mann

Advisor | License ID: 2196

+1(250) 852-0977

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