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$ 985,000
Est. payment /mo
Active
246 WHARNCLIFFE Road S London, ON N6J2L4
5 Beds
6 Baths
3,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $328
Subdivision South F
MLS® Listing ID 40698463
Bedrooms 5
Originating Board Cornerstone - Hamilton-Burlington
Property Sub-Type Freehold
Property Description
This 6-unit multifamily property, located near Downtown, Wortley Village, and a major bus route, offers an excellent investment opportunity with significant value-add potential. With 2 of the 6 units left vacant on purpose, the new owner can set new rents and maximize returns. The building includes a mix of unit types: 1-2 bedroom, 3-1 bedroom, and 2 bachelor units. Recent renovations include a stucco exterior (2021), roof with spray foam silicone system (2021), and full insulation of exterior walls and ceilings (2021). All windows and doors were replaced in 2021, reducing future maintenance costs. Most units have been updated with new bathrooms. The property features 2 upgraded 200-amp electrical panels, a high-efficiency forced air gas furnace, and low utility costs. A workshop/storage building at the rear provides additional income potential. Zoned AC2 (1), this property is well-positioned for future growth and rental demand. Projected cash flow of $75,600 per year, with the opportunity to increase returns by filling vacant units at market rates. A solid investment for those seeking to add a high-potential multifamily asset to their portfolio. (39879369) (id:24570)
Location
Province ON
Interior
Heating Forced air
Cooling None
Exterior
Parking Features No
Fence Partially fenced
View Y/N No
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Royal LePage Burloak Real Estate Services
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