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$ 599,900
Est. payment /mo
Active
46 Stanley ST London South, ON N6C 1B1
4 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000-2500
Subdivision South F
MLS Listing ID X12963106
Style 2 1/2 Storey
Bedrooms 4
Annual Tax Amount $3,989
Tax Year 2025
Property Sub-Type Fourplex
Property Description
Positioned on the edge of downtown, this is a prime opportunity to acquire a solid income-producing asset. With strong rental demand and proximity to the core, this is the type of property that supports both stable occupancy and long-term growth. The building consists of four 1-bedroom units, three of which have been recently renovated - allowing you to step into improved rents and reduced capital expenditure from day one. Two units are currently vacant, offering immediate flexibility: place your own tenants at market rents or take the opportunity to further upgrade and push value. Current gross monthly income is approximately $5,052, comprised of in-place rents and projected rents for the vacant units, with a clear path to ~$5,680 based on market rents with value added. At that level, the property is projected to operate around a 7.0% cap rate, with upside closer to the 8.2% range as rents are stabilized and value is added. Operating expenses are well-defined at roughly $1,923/month, resulting in a current NOI of ~$3,128/month and a projected NOI of ~$3,750+/month once rents are optimized. Depending on financing, this deal shows estimated monthly cash flow in the range of ~$500-$750 with current/projected rents, depending on execution. A major differentiator here is the ample on-site parking-something that's increasingly difficult to find this close to downtown and a key factor in tenant retention. Whether you're looking for a performing asset with immediate income or a property where you can still create value through leasing and light improvements, 46 Stanley offers a clean, straightforward path to both.
Location
Province ON
County Middlesex
Area Middlesex
Rooms
Family Room Yes
Basement Unfinished
Kitchen 4
Interior
Interior Features None
Cooling None
Inclusions Refrigerators x4 / Stove x4 / Washer / Dryer
Exterior
Parking Features Private
Pool None
Roof Type Asphalt Shingle
Lot Frontage 33.0
Lot Depth 185.0
Total Parking Spaces 4
Building
Foundation Brick
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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