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$ 525,000
Est. payment | /mo
4 Beds
3 Baths
$ 525,000
Est. payment | /mo
4 Beds
3 Baths
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100 - 1500
Subdivision East L
MLS® Listing ID X13801422
Bedrooms 4
Property Description
Licensed for three units and zoning-confirmed by the City of London - this solid brick three-unit property in London's SoHo neighbourhood delivers $48,300 in gross annual income and a 6.68% cap rate on an NOI near $35,729. The building holds a 2-bed front unit at $1,650, a 1-bed main floor rear unit at $1,275, and a bright 1-bed basement unit, currently vacant with $1,100 in rental potential, giving a buyer the chance to set a fresh market rent from day one or owner-occupy and house-hack, living in one unit while the other two help carry the mortgage. The City's building permit records confirm the three-unit configuration meets zoning requirements, and the property carries an active City of London rental licence covering all three units. A recently passed fire inspection, a roof in good condition, and central heating and air conditioning in good working order round out a low-maintenance package. Tenants share side-entrance laundry, a nice backyard, and parking for five vehicles (one at the front and four at the rear). All-inclusive utilities keep ownership simple. A standout addition to any income portfolio! (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Extra Room 1 Main level 2.5 m X 1.5 m Bedroom
Interior
Heating Forced air
Cooling Central air conditioning
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 4
Garage No
Private Pool No
Building
Story 1.5
Sewer Sanitary sewer
Listed by PRIME REAL ESTATE BROKERAGE
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