Purpose-built four-plex that has been comprehensively renovated with major capital systems addressed, including updated electrical and plumbing throughout, new windows, modern kitchens and bathrooms, full basement waterproofing in all four units, rebuilt walkways, and new paving-stone patios. Each unit currently offers two main-floor bedrooms and a full basement that has already been professionally roughed in for two additional bedrooms, a bathroom, and a family room. Basement completion is estimated at under $100,000 total and presents a clear value-add opportunity, with projected rental upside of approximately $740 per month per unit. Two units are currently leased at $1,800 per month plus utilities, with two vacant units providing immediate opportunity to stabilize or reposition rents. At full occupancy at current rents, annual gross income is projected at $91,200. Upon basement completion, projected net operating income increases to approximately $109,154, resulting in an estimated 6.5% cap rate.
Details
X12703186
8
$1,579,000
N/A N/A
2500-3000 Sqft
51-99
8
4
Fourplex
None
4 + 4
1 Storey/Apt
Sale
Additional details
N
N/A
N
Full,Partially Finished
Wall Unit(s)
Municipal
Schools Nearby
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FAQ
What is the total square footage of the X12703186 - 246 Greenwood Avenue, London South, ON N6J 3G4?
The total square footage of this property is 2500-3000 SqFt.
What schools near to X12703186 - 246 Greenwood Avenue, London South, ON N6J 3G4?