48.5 Mitchell St

Located In The Fast-Growing St. Thomas, Being Fully Rented With A 7.06% Cap Rate, This Fourplex Is Within Walking Distance From Multiple Grocery Stores; Bank Branches; A Long List Of Local Independent Restaurants, Cafes, Bars, And Bakeries; Health And Fitness Options That Will Meet The Needs Of Every Demographic Segment. Princess Ave Playhouse And St. Thomas-Elgin Public Art Centre Are Around The Corner For Art & Entertainment. Elgin County Courthouse, City Hall, And St. And Thomas Public Library Can All Be Reached On Foot. Within 5-8 Minutes Biking Distance, There Are Plenty Of Options For Outdoor Activities. Park And Recreational Facilities: V.A. Barrie Park With Large Open Space, Athletic Park With Soccer And Other Physical Activities, And Pinafore Park For Picnics, Fishing, Baseball, And Splash Pad & Playground. National & Multi-National Brands Such As Walmart, Real Canadian Superstore, Staples, Canadian Tires, Mcdonald's, A&With Popeye's, Starbucks, Swiss Chalet & Harvey's, Tim Hortons, Marble Slab Creamery Are Only A Short Drive Away. This 4-Plex Features Three(3) Recently Updated 2-Bedroom Units And One(1) 1-Bedroom Unit, With 4-Car Parking. Unit #1 Main Floor 2-Bedroom Unit Features Updated Kitchen(Cabinet Door, Countertop, Sink & Faucet), Updated Laundry Facility, New Vinyl Floorings Throughout Eat-In Kitchen And Hallway, With Hardwood Flooring In Living Room And Bedrooms, And Updated Bathroom. Unit #2 Basement 2-Bedroom Unit Has Been Updated With New Vinyl Floorings Throughout, New Laundry Machines, And Updated Kitchen And Bathroom. The Overhauled Unit #3 Upper Level 2-Bedroom Unit Has A New Kitchen(Cabinets, Countertop, Tiled Backsplash, Sink, Faucet, & Appliances), New Bathroom With Laundry(Vanity, Faucet, Tiled Shower), And New Vinyl Flooring Throughout. This Property Currently Is Generating Rental Income Of $71,160. After The Total Operating Expense Of $9,782, The Net Operating Income Is $61,385 Annually.