$680,000 FOR SALE

Triplex

Bedrooms: 6Bathrooms: 3Lot: 35 x 95 ft

49 Paddington Avenue
London, ON N6J 2S5

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. (id:47423)

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Listed By EXP REALTY
Data Provided By London and St. Thomas Association of REALTORS®
MLS® Listing Number X9356894
Last Updated Oct 09, 2024
Property Summary
Property Type Triplex

More like this:
Community South E
Price History
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Detailed Information
Bedrooms 6
Bathrooms 3
Lot 35 x 95 ft
Equipment Water Heater - Electric
Features Flat site
Listing Contract Date 2024-09-18
Location Description Paddington & Emery
# of Parking Spaces 4
Property Type Single Family
Rental Equipment Water Heater - Electric
Structures Shed
Transaction Type For sale
Building
Amenities Canopy
Appliances Water Heater, Dishwasher, Dryer, Microwave, Refrigerator, Stove, Washer, Window Coverings
Basement Features Separate entrance
Basement Type Partial
Exterior Finish Vinyl siding, Concrete
Fire Protection Smoke Detectors
Foundation Type Block
Heating Fuel Electric
Heating Type Baseboard heaters
Stories Total 2
Type Triplex
Utility Water Municipal water
Rooms
Room Level Dimensions Notes
BathroomSecond level1.21 m x 2.16 m
BathroomSecond level1.6 m x 2.31 m
BathroomMain level1.6 m x 2.4 m
Parking Spaces
Name Spaces
Tandem
Utilities
Type Description
CableAvailable
SewerInstalled
Land
Total Size 35 x 95 FT | under 1/2 acre
Sewer Sanitary sewer
Size of Irregular Land 35 x 95 FT
External Links

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