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5 Beds 3 Bath 2500-3000 sqft

331 Erie St

Central Elgin N5L 1E3 Ontario

MLS: X9035576

$1,250,000

Added 20 days ago | For Sale

Listed by: CENTURY 21 FIRST CANADIAN CORP

About Property

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!

Features

  • House Style:Multiplex
  • Bathrooms:3
  • Land Size:
  • Water:Municipal
  • Garage Spaces:2 /Detached
  • Driveway:Private
  • Heating Fuel:Gas
  • Cross Street:William Street
  • Basement:Crawl Space ,
  • Possession Date:immediate
  • Annual Property taxes: $4828.14
  • Bedrooms:5
  • Total Parking Spaces:8
  • Parking Places:6
  • Heating Type:Forced Air
  • Pool Type:None
  • Exterior:Metal/Side
  • Fronting On:N
  • Front Footage:66
  • Listing ID:X9035576

Rooms Dimensions Description
Kitchen 2.35 X 2.04 -
Dining 2.41 X 1.88 -
Living 4.55 X 4.08 -
Prim Bdrm 4.36 X 3.93 -
Br 3.83 X 4.04 -
Br 3.03 X 2.72 -
Bathroom 2.68 X 2.13 4 Pc Bath
Kitchen 3.02 X 2.44 -
Living 4.59 X 5 -
Br 3.23 X 3.87 -
Bathroom 1.16 X 2.97 3 Pc Bath
Kitchen 3.26 X 5.53 -

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Average Sale Prices per Month in Central Elgin
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5 Bedrooms Multiplex House Central Elgin
Monthly Sales Trends in Central Elgin
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5 Bedrooms Multiplex House Central Elgin
Avg Price for 5 Bedroom Multiplex house in Central Elgin
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