A 5% Cap Rate is achievable here! Welcome to your terrific income property in the heart of the Village with steps to the Main Beach! All amenities within walking distance of cafes, groceries, art galleries, live music venues, live theatre events, parks, schools, world class restaurants, and Port Stanley is open year-round! Grandfathered-in as a Triplex, fully tenanted with 3 great tenants on year-round leases. This very low-maintenance steel clad building & detached double car garage sits on a double lot with a large grassy backyard. Fully renovated in 2022 with all new metal on roof and siding, all new appliances, ungraded insulation, all new vinyl windows & doors, original hardwood flooring combined with new tile flooring. Unit 1 is approx 1200sf on 2 levels with 3 bright bedrooms & 1 modern bathroom with skylight on the upper floor, features a kitchen combined with laundry, and dining room, then opens up to a large living room with lots of natural light, front windows on both levels have water views. Unit 2 boasts approx 675sf with an open concept living room /eat-in kitchen area, with 1 bdrm, 3 pc bath & laundry upstairs. Unit 3 is larger than it looks, with almost 720sf on one floor with a den & living room at one end and a bedroom at the other end, with an open concept eat-in kitchen with island flowing into the dining room in the middle with enough space for a small lounge area to watch tv. A gorgeous 4 pc bath with new fixtures, tiles, and a pocket door. Enter this unit from the driveway /backyard into the sunroom. Parking available for all units with large double wide driveway for 6 vehicles, the double detached garage can be used as a garage but atm 2 interior 100sf sections are rented by 2 tenants as their storage for an extra $100/ month each. Contact LA for more info and book your showing as soon as possible! LA is to be onsite for all showings. Survey is available in the photos.
For sale
C$1,190,000
331 Erie St, Central Elgin, ON N5L 1E3
5beds
3baths
Triplex
Built in ----
-- sqft lot
$-- Zestimate®
C$--/sqft
C$-- HOA
What's special
- 93 days
- on Zillow |
- 38 |
- 2 |
Zillow last checked: 7 hours ago
Listing updated: May 22, 2025 at 05:35pm
Listed by:
CENTURY 21 FIRST CANADIAN CORP
Source: TRREB,MLS®#: X12167677
Originating MLS®#: London and St. Thomas Association of REALTORS

Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 3
Heating
- Forced Air, Gas
Cooling
- Central Air
Features
- Separate Hydro Meter, Upgraded Insulation
- Flooring: Carpet Free
- Basement: Crawl Space
- Has fireplace: No
Interior area
- Living area range: 2500-3000 null
Video & virtual tour
Property
Parking
- Total spaces: 8
- Parking features: Garage
- Has garage: Yes
Accessibility
- Accessibility features: Hard/Low Nap Floors
Features
- Stories: 1.5
- Patio & porch: Deck, Porch
- Exterior features: Landscaped, Year Round Living
- Pool features: None
- Has view: Yes
- View description: Clear, Lake, Skyline
- Has water view: Yes
- Water view: Lake,Partially Obstructive
- Waterfront features: WaterfrontCommunity, Lake
- Body of water: Lake Erie
Lot
- Size: 0.2 Square Feet
- Features: Arts Centre, Beach, Golf, Lake Access, School Bus Route, Marina, Rectangular Lot
- Topography: Flat,Dry
Details
- Parcel number: 352510446
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Metal/Steel Siding
- Foundation: Concrete
- Roof: Metal
Utilities & green energy
- Sewer: Sewer
Community & HOA
Community
- Security: Carbon Monoxide Detector(s), Smoke Detector(s)
Location
- Region: Central Elgin
Financial & listing details
- Tax assessed value: C$274,000
- Annual tax amount: C$4,828
- Date on market: 5/23/2025
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