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$609,900
Ontario,St. Thomas
For Sale Active
56 LEGER AVENUE, St. Thomas, Ontario N5R5P7
  • 5
  • 2
  • 700 - 1100Square Feet
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Basic Details
Description

A prime opportunity to own a turnkey, cash-flowing duplex on the south edge of St. Thomas – fully renovated, professionally positioned, and generating immediate income from day one. Configured as a 3-bedroom upper unit and a 2-bedroom lower unit, both units have been completely updated in 2024, delivering a true “plug-and-play” investment. Interior improvements include brand new kitchens with quartz

countertops, updated cabinetry, subway tile backsplashes, refreshed bathrooms, new flooring throughout, and in-suite laundry in both units – a level of finish that not only attracts quality tenants, but helps support long-term rent stability. From a numbers standpoint, the property is currently producing $3, 790/month in gross rental income, with a clear path to $3, 990/month based on achievable market rents. After accounting for approximately $1, 044/month in operating expenses, this results in a net operating income of ~$2, 745/month ($32, 951 annually) on current rents, and ~$2, 945/month ($35, 351 annually) at market rents. At the current list price, this translates to a 5.9% cap rate based on actual income, with the ability to push into the 6.3% range as rents are optimized – offering both immediate return and built-in upside. Operationally, the property is well thought out. Each unit benefits from its own dedicated heating and cooling system, helping reduce tenant overlap and simplifying expense management – with the upper unit serviced by a forced air furnace and central A/C, and the lower unit equipped with heat pumps (with integrated AC) and baseboard as backup. Combined with separate hydro meters and parking for up to 5 vehicles, this is a low-friction asset from a management standpoint. Location plays a key role here as well. Positioned on the south edge of St. Thomas, tenants have access to a wide range of schools, parks, walking trails, and everyday amenities – a consistently desirable area that supports tenant demand and long-term occupancy. (id:62650)

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Basic Details
  • Property Type: Residential Income
  • Listing Type: For Sale
  • Listing ID: X13076554
  • Price: $609,900
  • Bedrooms: 5
  • Bathrooms: 2
  • Square Footage: 700 - 1100 Sqft
  • Status: Active
  • Property Attached Yn: 1
  • Property Sub Type: Multi-family
  • Office Key: 276302
Features & Appliances
Features
  • Heating System: Forced air, Natural gas, Baseboard heaters, Electric, Heat Pump
  • Cooling System: Central air conditioning, Wall unit
  • Basement: Finished, Full
  • Fence: Fenced yard
  • Parking: No Garage
  • Exterior Features: Vinyl siding, Brick
  • Sewer: Sanitary sewer
Address Map
  • Location: CA, Ontario, St. Thomas, N5R5P7
  • Street: Leger
  • Street Number: 56
  • Street Suffix: Avenue
  • Longitude: W82° 49' 52.6''
  • Latitude: N42° 45' 26''
Additional Information
  • Water Source:
  • Foundation Details:
  • Lot Size Dimensions: 50.5 x 100 FT
Financial
  • Tax Annual Amount: 3668
Powered by REALTOR.ca
Listing updated: 2026-06-20 12:41:20
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Listing Information
  • List Agent Key: 1943784
  • List Office Key: 276302
  • Modification Timestamp: 2026-05-24T23:21:26Z
  • Originating System Name: London and St. Thomas Association of REALTORS®
  • Status Change Timestamp: 2026-05-24T23:14:27Z
Powered by REALTOR.ca
Listing updated: 2026-06-20 12:41:20
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