Added 1 week ago
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Type: Multiplex
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Style: 2-Storey
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Lot Size: 25.5 x 90 Feet
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Age: No Data
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Taxes: $2,226 per year
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Added: Feb 12, 2025 (1 week ago)
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Updated:
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Last Checked: 3 hours ago
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MLS®#: X11970467
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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. (39879369)
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Property
Status: Sale
Property Type: Multiplex
Style: 2-Storey
Area: London
Community: South F
Availability Date: Immediately
Assessment Amount: $157,000
Assessment Year: 2025
Inside
Bedrooms: 7
Bathrooms: 6
Kitchens: 6
Rooms: 6
Den/Family Room: No
Air Conditioning: Other
Fireplace: No
Central Vacuum: N
Washrooms: 6
Building
Basement: Apartment
Heat Type: Forced Air
Heat Source: Gas
Exterior: Stucco/Plaster
Water Supply: Municipal
Special Designation: Unknown
Parking
Garage Type: None
Fees
Tax Year: 2024
Tax Legal Description: PT LT 3 , BLK D , PL 343(4TH) , PT 1, 33R9201 ; LONDON
Taxes: $2,226
Land
Cross Street: Horton & Wharncliffe
Municipality District: London
Fronting On: East
Parcel Number: 083890089
Pool: None
Sewer: Sewers
Lot Depth: 90 Feet
Lot Frontage: 25.5 Feet
Very Walkable
- Most errands can be accomplished on foot.
Good Transit
- Some errands can be accomplished by public transportation.
Very Bikeable
- Most errands can be accomplished on bike.
Wortley Road Public School
Elementary: PublicVictoria Public School
Elementary: PublicSt Martin
Elementary: CatholicArthur Ford Public School
Elementary: PublicÉcole élémentaire catholique Frère André
Elementary: CatholicKensal Park Public School
Elementary: PublicWestminster Secondary School
Secondary: PublicLondon South Collegiate Institute
Secondary: PublicLondon Central Secondary School
Secondary: PublicCatholic Central High School
Secondary: CatholicSaunders Secondary School
Secondary: PublicH B Beal Secondary School
Secondary: Public-
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