331 Erie ST Active Save Request In-Person Tour Request Virtual Tour
Central Elgin,ON N5L 1E3
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500-3000
Subdivision Port Stanley
MLS Listing ID X9035576
Style 2-Storey
Bedrooms 5
Annual Tax Amount $4,828
Tax Year 2024
Property Sub-Type Multiplex
Property Description
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!
Location
Province ON
County Elgin
Community Port Stanley
Area Elgin
Rooms
Family Room Yes
Basement Crawl Space
Kitchen 3
Interior
Interior Features Upgraded Insulation,Carpet Free
Cooling Central Air
Fireplace No
Heat Source Gas
Exterior
Exterior Feature Porch,Deck,Privacy,Year Round Living
Parking Features Private
Garage Spaces 2.0
Pool None
Waterfront Description Indirect,WaterfrontCommunity
View Panoramic,Water,Lake,Skyline,Beach
Roof Type Metal
Topography Flat,Dry
Lot Frontage 66.0
Lot Depth 132.0
Total Parking Spaces 8
Building
Foundation Concrete
Others
Security Features Smoke Detector,Carbon Monoxide Detectors
ParcelsYN No
Virtual Tour https://unbranded.youriguide.com/331_erie_st_port_stanley_on/