$1,499,900 FOR SALE

Investment

Lot: 93.63 x 107.54 ftTotal Area: 3,067 ft2
2023 Taxes: $6,546.02

64 Duchess Ave
London, ON N6C 1N2 | South F | Middlesex

Discover this 5 Plex at 64 Duchess Ave, located in the heart of one of Canadas most sought-after neighbourhoods, Wortley Village. This fully tenanted building boasts AAA tenants across two spacious 2-bedroom units and three 1-bedroom units, ensuring steady and reliable income. On-site laundry, 6 hydro meters, 1 water meter, and 1 gas meter adds to the propertys appeal, making it easy to manage and operate. The property holds an active rental license with the City of London. Net Operating Income of $81,901.84 and a current cap rate of 5.46%, this is a solid investment in a thriving community with potential for upside! Located on a corner lot in Wortley Village, known for its vibrant atmosphere and voted one of the best neighbourhoods in Canada, this property offers a turn key opportunity to invest in a highly desirable location. The property features modern conveniences with individual temperature control for each unit, allowing tenants to manage their own temperature settings for optimal comfort. With two driveways providing a total of 10 parking spots, parking is ample. Inquire about competitive financing options.

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Listed By KELLER WILLIAMS LIFESTYLES
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X9300234
Last Updated Sep 16, 2024
Property Summary
Property Type Investment

More like this:
Use Apartments - 2 to 5 Units
Category Apartment
PIN 083890129
Legal Description PT LT 15, BLK D, PL 343(4TH), AS IN 832098; LONDON
Occupancy Tenant
Possession Date FLEXIBLE
Taxes (2023) $6,546.02
Tax Type Annual
Assessment (2024) $448,000
Directions/Cross Streets DUCHESS AVE & EDWARD STREET
Neighbourhood South F
Area Middlesex
Price History
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Detailed Information
Freestanding Y
Bathrooms 5
Lot 93.63 x 107.54 ft
Total Area 3,067 ft2
Approximate Age 100+
Air Conditioning Y
Basement Y
Chattels Y
Garage Type Outside/Surface
Parking Spaces 10
Heat Type Gas Hot Water
Financial Statement Y
Gross Income/Sales $95,430
Net Income Before Debt $81,902
Hydro Expense $1,968
Heat Expenses $3,017
Insurance Expense $1,997
Taxes Expense $6,546
Year Expenses $2,023
Expenses Actual/Estimated Act
Outside Storage Y
Area Influences Public Transit, Rec Centre
Sprinklers Y
Sewers San+Storm
Utilities Y
Water Municipal
Survey N
Lot/Bldg/Unit Code Building
Zoning R2-2
Seller Property Info Statement N

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