40 Barnes Street
St. Thomas, St. Thomas, N5R 2V5
FOR SALE
$599,900
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4 + 1
BEDROOMS 3
BATHROOMS 3
KITCHENS 15
ROOMS X13536296
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Property Description
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 rented at $1,050 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 7.5% 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
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Property Features
Park, Water Heater Owned, Private
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Property Details
Address
40 Barnes Street
Community
City
Postal Code
N5R 2V5
Property Type
Duplex, Duplex
Zoning
R4
Lot Size
71' x 101'
Taxes
$2,738 (2025
Basement
Full
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
4
Garage Type
Detached
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Listing contracted with Coldwell Banker Star Real Estate
Presenting 93 Myrtle St a well-constructed, architecturally distinctive 2.5-story all-brick legal duplex, commanding a presence in a highly desirable, established neighbourhood in St Thomas. This property is an exceptional, revenue-generating asset defined by its impeccable maintenance and abundant inherent character throughout. The building is configured into two distinct, self-contained dwellings, with the main floor rented for $1595 plus a $50 flat fee for gas, and the upper rented for $1595 plus a $50 flat fee for gas. The spacious upper unit offers three generously sized bedrooms, while the comfortable lower unit features two dedicated bedrooms. Both residences benefit from their own separate kitchens and baths and laundry, ensuring maximum privacy and tenant appeal. A key advantage for ownership and tenancy management is the complete independence of utilities, including separate furnaces and hydro meters. This turnkey investment has been recently enhanced with significant capital improvements, including a newer roof , many newer windows, and dedicated upper and lower patios, providing private, desirable outdoor spaces for each unit. With its robust construction, essential utility separation, and prime location, this duplex represents a superior opportunity for an investor seeking a stable, high-quality addition to their portfolio.
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One property, three beautifully updated living spaces and plenty of ways to make the numbers work. The main-floor unit features two bedrooms and one full bathroom, while the upper unit offers one bedroom and one full bathroom. The finished lower level adds another bedroom, full bathroom, kitchen and living area, creating even more flexibility. The work has already been done throughout, with bright, inviting interiors that feel current, comfortable and well cared for. The roof was replaced in September 2026 and comes with a transferable warranty, taking one major expense off the next owner's list. For an investor looking to add an income-producing property without taking on a major renovation first, this one checks a lot of boxes. Located close to downtown St. Thomas, parks, schools, public transit, shopping and everyday amenities, 31 Myrtle Street also provides convenient access to the highway and Port Stanley. Book your private showing and come see how this property could work for you.
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