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$ 645,000
Est. payment /mo
Active
552 Adelaide ST N London, ON N6B 3J5
3 Beds
2 Baths
UPDATED:
02/01/2025 01:50 PM
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision East G
MLS Listing ID X11932633
Style 2-Storey
Bedrooms 3
Annual Tax Amount $2,674
Tax Year 2024
Property Description
Great investment property close to downtown with short bus rides to both of Fanshawe College and Western University. Fully tenanted property with total rental income of $3800 per month (upper leased until Aug 2025 - $1650, and main is March 2025 - $2150) with tenants paying all utilities. Tenants are planning on staying. Fully funded this property has a capitalization rate between 5.5% and 6% meaning right from the start it is cash flow positive. Building was cleaned up and renovated in 2023 so very little can be expected in terms of maintenance fees for the next few years. Rents are slightly below market value meaning this building will perform more strongly and be an even better addition to your portfolio as time progresses. This yellow brick home sits on the edge of Woodfield and Old East Village. The main floor has 2 large bedrooms plus a basement with additional room. The upper has 1 bedroom plus den, both with in suite laundry. Property is being sold fully furnished excluding tenants belongings. Parking is at the rear of the building and access is off of Princess.
Location
Province ON
County Middlesex
Community East G
Area Middlesex
Rooms
Family Room No
Basement Partially Finished
Kitchen 2
Separate Den/Office 2
Interior
Interior Features Water Heater
Cooling None
Fireplaces Type Fireplace Insert
Fireplace Yes
Heat Source Gas
Exterior
Parking Features Private Double, Tandem
Garage Spaces 4.0
Pool None
Roof Type Asphalt Shingle,Metal
Lot Frontage 31.28
Lot Depth 120.29
Total Parking Spaces 4
Building
Foundation Stone
Listed by INITIA REAL ESTATE (ONTARIO) LTD
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