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$ 1,579,000
Est. payment /mo
New
246 GREENWOOD AVENUE London South (south D), ON N6J3G4
8 Beds
4 Baths
2,500 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,500 sqft
Price per Sqft $631
Subdivision South D
MLS® Listing ID X12703186
Bedrooms 8
Property Description
Purpose-built four-plex that has been comprehensively renovated with major capital systems addressed, including updated electrical and plumbing throughout, new windows, modern kitchens and bathrooms, full basement waterproofing in all four units, rebuilt walkways, and new paving-stone patios. Each unit currently offers two main-floor bedrooms and a full basement that has already been professionally roughed in for two additional bedrooms, a bathroom, and a family room. Basement completion is estimated at under $100,000 total and presents a clear value-add opportunity, with projected rental upside of approximately $740 per month per unit. Two units are currently leased at $1,800 per month plus utilities, with two vacant units providing immediate opportunity to stabilize or reposition rents. At full occupancy at current rents, annual gross income is projected at $91,200. Upon basement completion, projected net operating income increases to approximately $109,154, resulting in an estimated 6.5% cap rate. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Heat Pump, Not known
Cooling Wall unit
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 8
Private Pool No
Building
Sewer Sanitary sewer
Listed by PRIME REAL ESTATE BROKERAGE
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