$499,900
12 St Catharine ST St. Thomas, ON N5P 2V6
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$499,900
Est. payment /mo
5 BA
Pending
12 St Catharine ST St. Thomas, ON N5P 2V6
UPDATED:
09/30/2024 05:04 PM
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Pending
Purchase Type For Sale
Approx. Sqft 5000 +
MLS Listing ID X9361257
Style 2-Storey
Annual Tax Amount $7,726
Tax Year 2024
Property Description
Unique investment opportunity in the Downtown Core of St Thomas. Both properties are exclusively being sold together, one price for both! A VACANT 6300 Sq Ft building and a 41ft by 109ft rear lot (currently being rented as a parking lot). Both lots are under the same C2 zoning allowing for full commercial, full residential or mixed use. Architectural plans to convert the entire building into 11 residential units is included in the listing documents. After development, this would be an excellent candidate for refinancing under CMHC with a strong cashflow and no rent control (for new units). The rear lot would also provide sufficient parking for all units or can be redeveloped. Property is serviced by municipal water & sewers, natural gas and hydro. Building includes 6 breakers, 6 hydro meter bases, 3 gas meters, 3 furnaces and 8 existing points of entry. Excellent visibility in a family-friendly neighbourhood within steps to City Hall, Public Library, Westlake Evans Park, YMCA daycare, retail stores, restaurants, bars and public transit.
Location
Province ON
County Elgin
Area Nw
Rooms
Family Room No
Basement Unfinished
Kitchen 0
Interior
Interior Features Water Heater Owned
Cooling None
Fireplace No
Heat Source Gas
Exterior
Garage Available
Garage Spaces 11.0
Pool None
Waterfront No
Roof Type Asphalt Shingle,Flat
Parking Type None
Total Parking Spaces 11
Building
Unit Features Park,Public Transit
Foundation Block
Listed by BLUE FOREST REALTY INC.
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