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331 Erie Street Central Elgin, Ontario N5L 1E3

5 Bedroom 3 Bathroom 2499.9795 - 2999.975 sqft
Central Air Conditioning Forced Air

$1,250,000

Boost your real estate portfolio with this low-maintenance, high-yield investment opportunity! This 2,798 sq. ft. fully renovated triplex comes with a detached 20x33 double car garage on a spacious lot, offering long-term value and strong rental income. Fully tenanted by last Sept 1st with three excellent long-term tenants on one-year leases at current market rents, ensuring immediate cash flow. Low taxes enhance profitability, while extensive 2022 renovations include modern kitchens and baths, upgraded finishes, and original hardwood flooring throughout, with new flooring added where needed. Each unit has separate hydro meters and upgraded insulation, and the metal-clad exterior ensures durability with minimal upkeep. Dont miss this turnkey, worry-free investment! Unit #1: A spacious 3-bedroom, 1 full 4-piece bath home spanning approximately 1,200 sq. ft. over two levelsideal for families or professionals seeking ample living space.Unit #2: A cozy yet functional 1-bedroom, 1 full 3-piece bath unit covering approximately 675 sq. ft. across two levelsperfect for singles or couples.Unit #3: A bright and airy 1-bedroom + den, 1 full 4-piece bath unit with an open-concept layout on one floor, including a beautiful sunroomapproximately 700 sq. ft. of comfortable living. All units come equipped with in-suite laundry and full appliances. With immediate possession, the buyer will assume all current tenants, providing steady cash flow while offering the flexibility to convert units into high-revenue short-term rentals as they become available. This is a rare opportunity to maximize returns in a sought-after area. Legal Non-Conforming Triplex under R1 zoning. Seamless transition. Assume tenants and convert units as they vacate. 24-hour notice required for showings Serious inquiries only. Don't miss out on this versatile investment opportunity! See media tabs for more visual information. Book your showing asap! (id:38414)

Property Details

MLS® Number X9035576
Property Type Multi-family
Community Name Port Stanley
Easement Unknown, None
EquipmentType Water Heater
Features Flat Site, Dry, Carpet Free
ParkingSpaceTotal 8
RentalEquipmentType Water Heater
Structure Porch, Deck
ViewType View Of Water, Lake View

Building

BathroomTotal 3
BedroomsAboveGround 5
BedroomsTotal 5
Appliances Dishwasher, Dryer, Microwave, Range, Refrigerator, Stove, Washer
BasementType Crawl Space
ConstructionStatus Insulation Upgraded
CoolingType Central Air Conditioning
ExteriorFinish Steel
FireProtection Smoke Detectors
FoundationType Concrete
HeatingFuel Natural Gas
HeatingType Forced Air
StoriesTotal 2
SizeInterior 2499.9795 - 2999.975 Sqft
Type Other
UtilityWater Municipal Water

Parking

Detached Garage

Land

AccessType Year-round Access
Acreage No
Sewer Sanitary Sewer
SizeDepth 132 Ft
SizeFrontage 66 Ft
SizeIrregular 66 X 132 Ft
SizeTotalText 66 X 132 Ft|under 1/2 Acre
ZoningDescription R1

Rooms

Level Type Dimensions
Second Level Bathroom 1.16 m x 2.97 m
Second Level Primary Bedroom 4.36 m x 3.93 m
Second Level Bedroom 3.83 m x 4.04 m
Second Level Bedroom 3.03 m x 2.72 m
Second Level Bathroom 2.68 m x 2.13 m
Second Level Bedroom 3.23 m x 3.87 m
Main Level Kitchen 2.35 m x 2.04 m
Main Level Kitchen 3.26 m x 5.53 m
Main Level Dining Room 2.41 m x 1.88 m
Main Level Living Room 4.55 m x 4.08 m
Main Level Kitchen 3.02 m x 2.44 m
Main Level Living Room 4.59 m x 5 m

Utilities

Cable Available
Sewer Installed

Interested?

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