WELCOME TO...
40 BARNES STREET, ST THOMAS ON N5R 2V5
$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 vacant but lease potential of $1,200 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 6.5% 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
TAXES - $2,738 for 2025
LOT SIZE - 70.79' x 101.27' IRREGULAR
For more information on this property please call EARL TAYLOR direct at 519-670-9223 today. Visit my website at www.RealEstateinStThomas.ca or email me at earl-taylor@coldwellbanker.ca Each office is independently owned and operated E&O E
#35riceroad #stthomas #walkingdistancetomall #bungalow #bungalowforsale #moveinconditionhome #downsizing #firsttimebuyer