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$ 1,469,000
Est. payment /mo
Price Dropped by $110K
246 Greenwood AVE London South, ON N6J 3G4
8 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500-3000
Subdivision South D
MLS Listing ID X12703186
Style 1 Storey/Apt
Bedrooms 8
Annual Tax Amount $6,303
Tax Year 2025
Property Sub-Type Fourplex
Property Description
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. Three units are currently leased at $1,800 per month plus utilities on a month to month basis with the understanding that the new owners may want vacant possession to finish the basements. 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.
Location
Province ON
County Middlesex
Area Middlesex
Rooms
Family Room No
Basement Full, Partially Finished
Kitchen 4
Interior
Interior Features Rough-In Bath, Separate Hydro Meter, Water Heater, In-Law Capability
Cooling Wall Unit(s)
Exterior
Pool None
Roof Type Asphalt Shingle
Lot Frontage 53.7
Lot Depth 249.85
Total Parking Spaces 8
Building
Building Age 51-99
Foundation Poured Concrete
Others
Senior Community No
ParcelsYN No
Listed by PRIME REAL ESTATE BROKERAGE
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145 Wharncliffe Rd S, London, ON, N6J 2K4, CAN
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