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$1,999,900
Est. payment /mo
2,500 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,500 sqft
Price per Sqft $799
Subdivision South D
MLS® Listing ID X12467479
Source London and St. Thomas Association of REALTORS®
Property Description
Purpose built four plex with 2 bedrooms in each unit with with strong valued opportunity with City of London approval to covert into an 8 plex with four 2 bedrooms on the main level and four 2 bedroom lower units. All units have been renovated from top to bottom. Presently 2 units have been converted into 2 bedroom upper and 2 bedroom lower units. The other 2 units are 2+1 bedrooms with a finished bathroom and lower levels roughed in for a 2nd bedroom and kitchen. Strong value-add opportunity with upside already approved. Conversion will increase NOI by over $30,000 annually and lift valuation by approximately $432,000. Present Gross annual Income $132,000 net $115,209.03 Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 net $146,119.03 at 6.5 cap bring valuation to $2,248,000. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Heat Pump
Cooling Central air conditioning
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 6
Private Pool No
Building
Sewer Sanitary sewer
Others
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Listed by PRIME REAL ESTATE BROKERAGE
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