53 Gladstone Avenue St. Thomas, Ontario N5R 2L7
$699,900
*** 2 VACANT UNITS Available for September 2024*** Introducing a prime investment opportunity in the vibrant Court House District of St. Thomas, Ontario! Nestled on the desirable 53 Gladstone Avenue, this fourplex presents a lucrative prospect for savvy investors. Boasting four well-appointed 1-bedroom units, this property commands an impressive annual revenue of $67,000, making it a lucrative addition to any portfolio. What's more, with a current offering at a remarkable 7% capitalization rate, the potential for solid returns is undeniable. Recently renovated to the tune of $150,000, this turnkey property exudes quality and modernity, ensuring a hassle-free ownership experience. Each unit is meticulously maintained, attracting A+ tenants who not only pay rent promptly but also take great care of the premises, providing peace of mind for discerning investors. Beyond its inherent value, investing in 53 Gladstone Avenue means tapping into the promising trajectory of St. Thomas. With the city witnessing significant investments from renowned multinational corporations like Amazon and Volkswagen, the long-term prospects for growth and appreciation are compelling. *Interior photos are from 2022 when the renovations completed* Don't miss out on this strategic portfolio piece that promises not only immediate returns but also the potential for substantial appreciation in the thriving St. Thomas market. Schedule a viewing today and secure your stake in this lucrative opportunity! (id:20872)
Property Details
| MLS® Number | X9012575 |
| Property Type | Multi-family |
| Equipment Type | Water Heater |
| Parking Space Total | 4 |
| Rental Equipment Type | Water Heater |
Building
| Bathroom Total | 4 |
| Bedrooms Above Ground | 4 |
| Bedrooms Total | 4 |
| Appliances | Water Heater, Dryer, Refrigerator, Stove, Washer |
| Basement Development | Unfinished |
| Basement Type | N/a (unfinished) |
| Exterior Finish | Vinyl Siding |
| Fireplace Present | Yes |
| Fireplace Total | 1 |
| Foundation Type | Poured Concrete, Block, Brick |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Type | Other |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 53 Ft |
| Size Frontage | 66 Ft |
| Size Irregular | 66 X 53 Ft |
| Size Total Text | 66 X 53 Ft |
https://www.realtor.ca/real-estate/27128040/53-gladstone-avenue-st-thomas
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September 03 2024 11:38:15
London and St. Thomas Association of REALTORS®
Blue Forest Realty Inc.