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$ 1,049,900
Est. payment | /mo
12 Beds
4 Baths
$ 1,049,900
Est. payment | /mo
12 Beds
4 Baths
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500-5000
Subdivision St. Thomas
MLS Listing ID X13490074
Style 2-Storey
Bedrooms 12
Annual Tax Amount $5,166
Tax Year 2025
Property Sub-Type Fourplex
Property Description
A rare opportunity to acquire a fully legal and vacant 4-plex in the growing city of St. Thomas, allowing the new owner to establish market rents from day one. This updated building offers an attractive unit mix: one 4 bedroom unit, two 3 bedroom units, and one 2 bedroom unit. Major improvements over the past 10 years include updated kitchens, modernized electrical with 100 amp service per unit, interior and exterior waterproofing, an updated roof with 50 year shingles, updated windows, refinished floors, fresh paint, updated exterior doors, and renovated bathrooms in three of the units. Additional features include basement storage, owned water heaters, municipal sewer connection, and in-unit laundry potential. Set on a large 0.59 acre lot, the property also offers underutilized land with possible future development, subject to approvals. Located minutes from parks, schools, shopping, downtown St. Thomas, London, and Hwy 401. St. Thomas continues to grow as a Southwestern Ontario investment market, supported by major regional employers including Volkswagen/PowerCo, Amazon, and Magna/Formet, along with ongoing downtown revitalization and long-term housing demand. With vacant possession, a legal 4-plex configuration, extensive updates, and future upside, 50 Fairview is a compelling turnkey investment opportunity.
Location
Province ON
County Elgin
Area Elgin
Rooms
Family Room No
Basement Full, Unfinished
Kitchen 4
Interior
Interior Features Other
Cooling Central Air, Wall Unit(s)
Fireplace No
Heat Source Gas
Exterior
Pool None
Roof Type Shingles
Lot Frontage 55.57
Lot Depth 249.22
Total Parking Spaces 10
Building
Building Age 100+
Unit Features Park,Place Of Worship,Rec./Commun.Centre,School,Public Transit
Foundation Poured Concrete
Others
ParcelsYN No
Virtual Tour https://unbranded.youriguide.com/50_fairview_avenue/
Listed by ROYAL LEPAGE TRILAND REALTY