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$ 1,799,000
Est. payment /mo
Active
231 GREENWOOD AVENUE London South (south D), ON N6J3G5
14 Beds
6 Baths
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500 - 3000
Subdivision South D
MLS® Listing ID X12971596
Bedrooms 14
Property Description
Purpose-built fourplex now converted to a 6-unit income property, with City-approved plans for an 8-unit build-out. All units are FULLY RENOVATED TOP TO BOTTOM, offering immediate cash flow with significant upside. Presently the 2 bedroom upper rented at $1800p/m plus utilities and two 2 bedroom lower units rented at $1600p/m plus utilities. The other two units are 2+1 bedrooms with a finished basements and lower levels roughed in for a 2nd bedroom and kitchen at $2100p/m plus utilities.. Water and Taxes are $11789 for 2025..Present Gross annual Income $132,000. Net income $114,919.83 representing a cap rate of 6.4...Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 with a potential net income of $146,119.03 representing a cap rate 8.2. Asking price includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings in place with 8x2 development approximately 75% complete." Over $400,000 value upside potential based on developed property income. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Heat Pump
Cooling Central air conditioning
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 6
Garage No
Private Pool No
Building
Sewer Sanitary sewer
Listed by PRIME REAL ESTATE BROKERAGE
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