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207 Ross Street

207 Ross Street, St. Thomas, Ontario , N5R 3Y4
  • Price: $1,399,900
  • Bedrooms: 12
  • Bathrooms: 12
  • Square Footage: 9726
None Hot Water Radiator Heat Landscaped
Description
Amenities
Mortgage Calculator

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 3.64% (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:16757)

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
Fireplace Present No
Foundation Type Poured Concrete
Heating Type Hot Water Radiator Heat
Stories Total 3
Size Interior 9726
Utility Water Municipal Water

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

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The Grantham Group is still working as Realtors. Sellers are still open for showings. Contact us now for more information on any of our listings.