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40 BARNES STREET, St. Thomas

5 BEDS · 3 BATHS · 1100 - 1500 sqft

$599,900

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

General Info


MLS Listing ID: X13536296 Bedrooms: 5 Bathrooms: 3 Year Built: 0
Listing Type: Multi-family Half Baths: N/A Fireplace Fuel: N/A Maintenance Fee: N/A
Foundation: Concrete, Block Roof: N/A Title To Land: N/A Parking Space Total: 5
Parking: N/A Heating: Forced air Size: 1100 - 1500 sqft Air Conditioning : None
Home Style: N/A Finished Floor Area: N/A Fireplaces: N/A Basement: Full
Water Supply: Municipal water Road Type: N/A Pool Type: N/A

Amenities/Features


  • Irregular lot size

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