50 Fairview Avenue,St. Thomas, ON N5R4X6
St. Thomas, ON N5R4X6
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. (id:13843)
Details
| MLS # | X13490074 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 120 |
| Listing Provided By | ROYAL LEPAGE TRILAND REALTY | JEFF NETHERCOTT |
Features
| Bed(s) | 12 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 3,500 |
| Basement | Y |
| Story(s) | 2 |
| Zoning | R3-5 |
Interior
| Cooling | Central air conditioning, Wall unit |
|---|---|
| Heating | Heat Pump, Forced air, Natural gas |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Irregular lot size |
|---|---|
| Foundation Details | Poured Concrete |
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 10 |
Utilities
| Sewer | Sanitary sewer |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 5166 |
|---|---|
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| City | St. Thomas |
| Postal Code | N5R4X6 |
| Listing VS Median (in N5R4X6) | |
Price: $899,900 low | high Med: $695,400 sqft: 3,500 low | high Med: 2,300 $ / sqft: $257 low | high Med: $352 On site: 120 low | high Med: 97 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | St. Thomas |
| Postal Code | N5R4X6 |
| Listing VS Median (in N5R4X6) | |
Price: $899,900 low | high Med: $695,400 sqft: 3,500 low | high Med: 2,300 $ / sqft: $257 low | high Med: $352 On site: 120 low | high Med: 97 | |