246 Wharncliffe Road South, London | Image 1

246 Wharncliffe Road South

London, South F

  • Commercial

$985,000
For Sale

Added 2 months ago

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  • Type: Investment

  • Property Type: Commercial

  • Business Type: Apts-6 To 12 Units

  • Zoning: AC2

  • Age: No Data

  • Taxes: 2226.2

  • MLS®#: X11970286

  • Days on Site: 21 Days

  • Added: Feb 12, 2025 (2 months ago)

  • Updated:

  • Last Checked: 1 month ago

  • Listed By: ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES

This 6-unit multifamily property, located near Downtown, Wortley Village, and a major bus route, offers an excellent investment opportunity with significant value-add potential. With 2 of the 6 units left vacant on purpose, the new owner can set new rents and maximize returns. The building includes a mix of unit types: 1-2 bedroom, 3-1 bedroom, and 2 bachelor units. Recent renovations include a stucco exterior (2021), roof with spray foam silicone system (2021), and full insulation of exterior walls and ceilings (2021). All windows and doors were replaced in 2021, reducing future maintenance costs. Most units have been updated with new bathrooms. The property features 2 upgraded 200-amp electrical panels, a high-efficiency forced air gas furnace, and low utility costs. A workshop/storage building at the rear provides additional income potential. Zoned AC2 (1), this property is well-positioned for future growth and rental demand. Projected cash flow of $75,600 per year, with the opportunity to increase returns by filling vacant units at market rates. A solid investment for those seeking to add a high-potential multifamily asset to their portfolio.

Property

  • Status: Sale

  • Type: Apts-6 To 12 Units

  • Property Type: Investment

  • Property Type: Apartment

  • Area: London

  • Community: South F

  • Availability Date: Immediately

  • Assessment Year: 2025

Inside

  • Air Conditioning: Part

Utilities

  • Utilities: Yes

Building

  • Heat Type: Gas Forced Air Open

  • Energy Certificate: N

  • Green Verification Status: N

  • Freestanding: Y

  • Water Supply: Municipal

Parking

  • Garage Type: None

Fees

  • Tax Year: 2024

  • Taxes: $2,226

  • Taxes Type: Annual

Land

  • Cross Street: Horton & Wharncliffe

  • Municipality District: London

  • Parcel Number: 083890089

  • Lot Depth: 90 Feet

  • Lot Frontage: 25.5 Feet

  • Zoning: AC2

Commercial Specific

  • Total Area: 3000

  • Total Area Metric: Sq Ft

  • Lot Code: Building

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Map of 246 Wharncliffe Road South, London
JK-8

Wortley Road Public School

Elementary: Public
0.95 km
JK-8

Victoria Public School

Elementary: Public
0.42 km
JK-8

St Martin

Elementary: Catholic
0.64 km
JK-8

Arthur Ford Public School

Elementary: Public
1.97 km
JK-6

École élémentaire catholique Frère André

Elementary: Catholic
1.57 km
K-8

Kensal Park Public School

Elementary: Public
1.37 km
9-12

Westminster Secondary School

Secondary: Public
1.77 km
9-12

London South Collegiate Institute

Secondary: Public
1.51 km
9-12

London Central Secondary School

Secondary: Public
2.53 km
9-12

Catholic Central High School

Secondary: Catholic
2.67 km
9-12

Saunders Secondary School

Secondary: Public
3.57 km
9-12

H B Beal Secondary School

Secondary: Public
2.94 km
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