331 Erie Street Central Elgin (Port Stanley), ON N5L 1E3
Listing Courtesy of: CREA - C21 Brokers / Century 21 First Canadian Corp. Brokerage / Susan E Tanton

  331 Erie Street Central Elgin (Port Stanley), ON N5L 1E3

Active (216 Days)
$1,250,000
5
BED
3
BATH

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! (id:42016)

MLS®:
X9035576
Type
Multifamily
Views
View of Water, Lake View
County
Elgin County

Listed By

Susan E Tanton, Century 21 First Canadian Corp. Brokerage
Source
CREA - C21 Brokers
Last checked Feb 13 2025 at 7:20 PM EST
Bathroom Details
  • Full Bathrooms: 3
Interior Features
  • Microwave
  • Dryer
  • Range
  • Stove
  • Dishwasher
  • Refrigerator
  • Washer
Lot Information
  • Carpet Free
  • Dry
  • Flat Site
Property Features
  • Foundation: Concrete
Heating and Cooling
  • Natural Gas
  • Forced Air
  • Central Air Conditioning
Basement Information
  • Crawl Space
Exterior Features
  • Steel
Utility Information
  • Sewer: Sanitary Sewer
Parking
  • Total: 8
  • Detached Garage
Stories
  • 2
Powered by Walk Score®
Disclaimer: REALTOR.CA The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Listing Data Last Updated: 2/13/25 11:20