Exciting Investment Opportunity! Highly desirable rental property conveniently located near downtown. This three-unit building is situated on a spacious lot, within walking distance to downtown and near major transit routes. Units 1 and 2 offer two bedrooms and one bathroom each on the ground level. Unit 3, located on the upper level, is divided into three separate units (A, B, and C). Unit A features 2 bedrooms and 1 bathroom, Unit B has 1 bedroom and 1 bathroom, and Unit C is a bachelor unit with a bathroom. Experience the beauty of scenic trails along the Thames River, attend major ball games in London, and enjoy various festivals and entertainment events downtown. This property generates a net income of $58,000 annually, with a Pro Forma worksheet available for review upon request. With a remarkable cap rate of 7.1%, this investment opportunity is not to be missed. Act swiftly to seize this lucrative opportunity! Vendor take back mortgage is possible with 30% down to approved potential buyers. (id:47423)
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Detailed Information
Bedrooms
7
Bathrooms
5
Lot
33 x 165 ft
Amenities Nearby
Public Transit, Schools, Shopping
Equipment
Water Heater
Features
Paved driveway
Listing Contract Date
2024-03-13
Location Description
Colborne & Horton
Ownership Type
Freehold
# of Parking Spaces
4
Property Type
Multi-family
Rental Equipment
Water Heater
Transaction Type
For sale
Zoning Description
R8-4,AC4
Building
Basement Development
Unfinished
Basement Type
Crawl space (Unfinished)
Constructed Date
1930
Cooling Type
None
Exterior Finish
Stucco, Vinyl siding
Heating Fuel
Natural gas
Heating Type
Forced air
Stories Total
2
Type
Triplex
Utility Water
Municipal water
Land
Total Size
under 1/2 acre
Access Type
Road access
Amenities
Public Transit, Schools, Shopping
Sewer
Municipal sewage system
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