49 Paddington Avenue, London | Image 1

49 Paddington Avenue

London, South E

  • 6 bed 3 bath 1100 sqft
$719,000 est.*: $2,436/mo
For Sale

Added 2 months ago

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  • Type: Triplex

  • Style: 2-Storey

  • Size: 1100 sqft

  • Lot Size: 35 x 95 Feet

  • Age: 51-99 years

  • Taxes: $2,893 per year

  • Days on Site: 61 Days

  • Added: Sep 17, 2024 (2 months ago)

  • Updated:

  • Last Checked: 8 hours ago

  • MLS®#: X9356894

  • Listed By: Exp realty

This fully renovated seperately metered Three Unit Income Property in Manor Park works as an ideal seemless compliment to exisiting porfolios, as a solid first aquisition in the real estate investing world, and/or as a great oppurtunity to occupy one unit and generate income on the other units. The property just completed and passed fire and electrical safety inspections in July of 2024 helping reinforce this as a safe investment and/or new location to call home. As of December 1st the split level three bedroom and upper one bedroom unit will be vacant with sale (unless requested to be leased by buyer; negotiable to be vacant sooner). This property has been creatively designed to keep all the living space above grade; with all units having been recently renovated and all major elements being replaced or upgraded; with bonus storage units created and rented below grade providing an additional income stream. This property provides very close access to the high energy major transportaion routes for public transit and is situated near to shopping centres. The area also offers great naturscapes to explore including Eustace Park and The Coves protected area. This fully tenanted property offers an annual income of at over $50,000 after expenses this property is a prime candidate for a cash flowing asset projected at a 7%+ Cap Rate at asking. As noted the newly renovated basement space allows for additional income with storage units with the space freshly painted, spray foamed and the cielings drywalled. The shared basement space also features a laundry room with two washers and two dryers for usage between the tenants. Basement additionally waterproofed, insulated and ceiling / walls newly drywalled. Between the previous professional home inspection, the electrical safety authority inspection, and the fire inspection; it is of upmost importance to the current owner than the new buyer inherites a safe property. Detailed financials are also available and can be provided.

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Property

  • Status: Sale

  • Property Type: Triplex

  • Style: 2-Storey

  • Size (sq ft): 1100

  • Age: 51-99

  • Area: London

  • Community: South E

  • Availability Date: Flexible

  • Assessment Amount: $336,000

  • Assessment Year: 2023

Inside

  • Bedrooms: 6

  • Bathrooms: 3

  • Kitchens: 3

  • Rooms: 10

  • Den/Family Room: Yes

  • Air Conditioning: Other

  • Fireplace: No

  • Laundry Level: Lower

  • Washrooms: 3

Utilities

  • Electricity: Yes

  • Gas: Available

  • Cable: Available

  • Telephone: Available

Building

  • Basement: Part Bsmt

  • Basement 2: Sep Entrance

  • Heat Type: Baseboard

  • Heat Source: Electric

  • Exterior: Concrete

  • Exterior: Vinyl Siding

  • Elevator: N

  • Energy Certificate: N

  • Green Verification Status: N

  • Water Supply: Municipal

  • Special Designation: Unknown

  • Other Structures: Garden Shed

  • Retirement: N

Parking

  • Driveway: Front Yard

  • Garage Type: None

  • Covered Parking Spaces: 4

  • Total Parking Spaces: 4

Fees

  • Tax Year: 2023

  • Tax Legal Description: LT 178, PL 488 ; LONDON/WESTMINSTER

  • Taxes: $2,893

Land

  • Cross Street: Paddington & Emery

  • Municipality District: London

  • Fronting On: West

  • Parcel Number: 083980342

  • Pool: None

  • Sewer: Sewers

  • Lot Depth: 95 Feet

  • Lot Frontage: 35 Feet

  • Acres: < .50

Additional Media

  • Virtual Tour: https://my.matterport.com/show/?m=jmK6R59rMej

Rooms

Room details for 49 Paddington Avenue, London

Type Dimensions
Bathroom Main 2.40 x 1.60
Bathroom 2nd 2.16 x 1.21
Bathroom 2nd 2.31 x 1.60
See 3D Tour of 49 Paddington Avenue, London
3D Walkthrough
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Very Walkable

  • Most errands can be accomplished on foot.
80 /100

Some Transit

  • Most errands require a car.
46 /100

Bikeable

  • Some errands can be accomplished on bike.
64 /100
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Map of 49 Paddington Avenue, London
JK-8

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Elementary: Catholic
1.60 km
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Wortley Road Public School

Elementary: Public
1.14 km
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Victoria Public School

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1.17 km
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1.11 km
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Arthur Ford Public School

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1.24 km
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