22
See all 22 photos
$1,469,000
Est. payment /mo
8 Beds
4 Baths
2,500 SqFt
Active
246 GREENWOOD AVENUE London South (south D), ON N6J3G4
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500 - 3000
Square Footage 2,500 sqft
Price per Sqft $587
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. Three units are currently leased at $1,800 per month plus utilities on a month to month basis with the understanding that the new owners may want vacant possession to finish the basements. 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
Cooling Wall unit
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 8
Garage No
Private Pool No
Building
Sewer Sanitary sewer
Listed by PRIME REAL ESTATE BROKERAGE
NEARBY SCHOOL & BUSINESS
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