For Sale · Multifamily

24 FLORA STREET, St. Thomas

24 FLORA STREET, St. Thomas, ON N5P2X4

$788,888 total

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

98%

About this property

.Step into the charm and character of this beautifully maintained 2.5-storey Century home, originally built in 1912, where timeless architecture meets modern convenience. Located in a desirable downtown St. Thomas neighborhood, this spacious and versatile property offers an incredible combination of character, functionality, and income potential. With an impressive 7 bedrooms, 2 kitchens, 3 full bathrooms, a powder room, and 2 separate laundry areas, the possibilities are endless. Whether you're looking for a spacious family home, multi-generational living, an investment property, or the opportunity to offset your mortgage with rental income, this home offers the flexibility to make it happen. The fully renovated lower level features its own separate entrance, kitchen, two bedrooms, full bathroom, and laundry, making it ideal for an in-law suite or additional rental opportunity. Outdoor living is just as appealing, with three rear decks, a spacious 16' x 16' ground-level deck, a 10' x 10' storage shed, and parking for up to six vehicles. Numerous updates add to the home's appeal, including windows and exterior doors (2022), furnace (2023), eavestroughs (2024), plumbing improvements, and a durable metal roof. Previously operated as a successful Airbnb, the upper-level accommodations have achieved Superhost and Guest Favourite recognition, showcasing the property's established income potential. An added bonus is the opportunity to purchase the home fully furnished, making it a convenient turnkey option for investors or buyers looking to get started right away. Enjoy the convenience of downtown living, just steps from CASO Railway Station and within walking distance to local restaurants, grocery stores, parks (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$789K
Down payment30% · $237K
Interest rate6.25%
Amortization25 years
Occupancy98%
Expense growth2.5%

Monthly debt service

$4K

Projected NOI

$35K

Annual cash flow

$-8K

Cash-on-cash

-3.48%

DSCR

0.81

Going-in cap

4.50%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

77,832

Households

36,270

Median income

$81,000

Median age

40.4

Daytime population

67,738

5-yr growth

2.1%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 24 FLORA STREET, St. Thomas.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.