Sold on Nov 29, 2024
Note: Property is not currently for sale or for rent.
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Type: Triplex
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Style: 2-Storey
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Lot Size: 45.16 x 107.12 Feet
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Age: 51-99 years
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Taxes: $4,405 per year
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Days on Site: 8 Days
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Added: Dec 02, 2024 (1 week on market)
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Updated:
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Last Checked: 4 hours ago
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MLS®#: X10433561
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Listed By: Exp realty
Investors, take note! This turnkey triplex is a rare opportunity to own or live in one of the units while enjoying a well-maintained income property in a desirable family-friendly neighbourhood. Fully licensed and fire inspected. Offering three spacious two-bedroom units, the property has been updated with modern kitchens, bathrooms and flooring, as well as updated heating, plumbing, and electrical systems. Roofing was updated in 2019. Projected to generate $40,630 in gross rental income for 2024, with operating expenses estimated at $11,826, the property is set to achieve a net income of approximately $28,804. With its fair market rental potential of $64,200 annually, this property offers both immediate returns and exciting long-term growth potential. Current rents for the middle and lower units are $1,225 per month, including utilities, with reliable, long-term tenants who wish to stay. The recently vacated upper unit provides an excellent option for owner-occupancy or securing a new tenant at market rent of $1,750 or more. On-site coin laundry is available. Additional highlights include ample parking and a private rear yard, all within close proximity to parks, schools, and public transit. Whether youre a seasoned investor or just starting your portfolio, this low-maintenance, high-performing property is an exceptional opportunity.
Status
Days on Market: 8
Last Status: Sold
Sold Date: Nov 29, 2024
Closed Date: Jan 15, 2025
Expiry Date: Feb 21, 2025
Sold Price: $700,000
Unavailable Date: Dec 02, 2024
Input Date: Nov 21, 2024
Prior LSC: Listing with no contract changes
Property
Status: Sale
Property Type: Triplex
Style: 2-Storey
Age: 51-99
Area: London
Community: East O
Availability Date: Flex
Assessment Amount: $280,000
Assessment Year: 2024
Inside
Bedrooms: 4
Bedrooms Plus: 2
Bathrooms: 3
Kitchens: 2
Kitchens Plus: 1
Rooms: 8
Den/Family Room: Yes
Air Conditioning: None
Fireplace: No
Laundry Level: Lower
Washrooms: 3
Building
Basement: Apartment
Basement 2: Fin W/O
Heat Type: Other
Heat Source: Gas
Exterior: Brick
Water Supply: Municipal
Special Designation: Unknown
Parking
Driveway: Private
Garage Type: None
Covered Parking Spaces: 6
Total Parking Spaces: 6
Fees
Tax Year: 2024
Tax Legal Description: LOT 1 PLAN 852; LONDON/LONDON TOWNSHIP
Taxes: $4,405
Land
Cross Street: Trafalgar
Municipality District: London
Fronting On: West
Parcel Number: 081220024
Pool: None
Sewer: Sewers
Lot Depth: 107.12 Feet
Lot Frontage: 45.16 Feet
Lot Irregularities: 107.12 ft x 45.13ftx1
Acres: < .50
Zoning: R3-2
Rooms
Room details for 1467 Mclarenwood Terrace, London
| Type | Dimensions | Description |
|---|---|---|
| Kitchen 2nd | 4.89 x 3.36 | |
| Living 2nd | 3.30 x 6.77 | |
| Br 2nd | 3.82 x 3.36 | |
| 2nd Br 2nd | 3.38 x 2.73 | |
| Kitchen Main | 3.36 x 4.88 | |
| Living 2nd | 3.29 x 6.71 | |
| Br 2nd | 3.84 x 3.35 | |
| 2nd Br 2nd | 3.32 x 2.76 | |
| Kitchen Lower | 3.17 x 4.78 | |
| Living Lower | 3.21 x 4.58 | |
| Br Lower | 3.16 x 3.22 | |
| 2nd Br Lower | 2.84 x 3.20 |
St Bernadette Separate School
Elementary: CatholicSt Pius X Separate School
Elementary: CatholicFairmont Public School
Elementary: PublicTweedsmuir Public School
Elementary: PublicPrince Charles Public School
Elementary: PublicPrincess AnneFrench Immersion Public School
Elementary: PublicRobarts Provincial School for the Deaf
Secondary: ProvincialRobarts/Amethyst Demonstration Secondary School
Secondary: ProvincialThames Valley Alternative Secondary School
Secondary: PublicB Davison Secondary School Secondary School
Secondary: PublicJohn Paul II Catholic Secondary School
Secondary: CatholicClarke Road Secondary School
Secondary: Public
