231 Greenwood Avenue, London South (South D), Ontario N6J3G5
Listing courtesy of PRIME REAL ESTATE BROKERAGE.
- $1,799,000
- 14
- BD
- 6
- BA
- List Price
- $1,799,000
- Status
- ACTIVE
- Days on Market
- 154
- MLS® #
- LondonandStThomasAssociationofREALTORS-X12971596
- Bedrooms
- 14
- Bathrooms
- 6
- Subdivision
- South D
- Neighborhood
- South D
- MLS Area Major
- South D
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:5764)
Additional Information
- Exterior Features
- Brick
- Taxes
- $6,136
- Community Features
- South D
- Appliances
- Water meter
- Heating
- Heat Pump, Natural gas
- Air Conditioning
- Central air conditioning
- Foundation
- Poured Concrete
- Parking Features
- No Garage, Shared
