231 GREENWOOD AVENUE
London South (South D), N6J3G5
About This Home
Purpose-built fourplex now converted to a 6-unit income property, with City-approved plans for an 8-unit build-out. All units are FULLY RENOVATED TOP TO BOTTOM, offering immediate cash flow with significant upside. Presently the 2 bedroom upper rented at $1800p/m plus utilities and two 2 bedroom lower units rented at $1600p/m plus utilities. The other two units are 2+1 bedrooms with a finished basements and lower levels roughed in for a 2nd bedroom and kitchen at $2100p/m plus utilities.. Water and Taxes are $11789 for 2025..Present Gross annual Income $132,000. Net income $114,919.83 representing a cap rate of 6.4...Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 with a potential net income of $146,119.03 representing a cap rate 8.2. Asking price includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings in place with 8x2 development approximately 75% complete." Over $400,000 value upside potential based on developed property income. (id:66460)
Facts & Features
Location
Estimate Your Payment
Based on this home's list price of $1,799,000.
20.0% down payment
Also budget for closing costs — try the Closing Costs Calculator.
This listing is courtesy of London and St. Thomas Association of REALTORS®. Justin Skrypnyk can arrange a private showing or answer questions as your buyer's representative.
Request a Showing Call NowRequest a Showing
231 GREENWOOD AVENUE
Request More Info
Have a question about this listing? Ask Justin directly.
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). MLS® and the MLS® logo are owned by CREA. Listing content courtesy of London and St. Thomas Association of REALTORS®. See our Terms of Use.