Property Information:

Presenting an opportunity to acquire a 7-unit multifamily property package in the heart of downtown London. This offering includes both a triplex and a fourplex, providing immediate cash flow with long-term value-add potential. The unit mix consists of four 2-bedroom units and three 1-bedroom units, appealing to a broad tenant base. Four units have been fully renovated with modern upgrades, delivering strong rental appeal and reduced near-term maintenance, while the remaining three units offer clear upside through cosmetic and functional improvements. Currently operating at a 6.9% cap rate, the property provides solid in-place returns with additional income growth potential as rents are brought to market and value-add improvements are completed. Shared on-site laundry adds tenant convenience while generating supplemental income. Ideally located just steps from London's downtown core, tenants benefit from close proximity to transit, shopping, dining, employment hubs, and post-secondary institutions-factors that support consistent rental demand and low vacancy. For investors seeking a balance of stability and upside, this asset offers a compelling opportunity to acquire a partially renovated multifamily property with multiple pathways to grow both equity and cash flow at a STEAL of a price! (id:27)

Building Features:

Style: Multiplex
Building Type: Other
Basement Development: Unfinished
Basement Type: N/A
Exterior Finish: Brick
Floor Space: 3500 - 5000 sqft
Foundation Type:
Heating Type: Baseboard heaters, Forced air, Not known, Not known
Heating Fuel: Electric, Natural gas
Cooling Type: None
Appliances: Stove, Refrigerator

Property Features:

Property Type: Multi-family
Bedrooms: 11
Bathrooms: 7
Amenities Nearby: Hospital, Public Transit
Features: Flat site
Floor Space (approx): 3500 - 5000 Square Feet
Irregular: Yes
Lot Depth: 77.3 Feet
Lot Frontage: 56 Feet
Lot Size: 56 x 77.4 FT
Zoning: OR
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 2

Courtesy of: PRIME REAL ESTATE BROKERAGE

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Demographic Information of 376 BURWELL STREET, London East (East G), Ontario, N6B 2W2

Life Stage

Later Years

Employment Type

Service Sector

Average Household Income

$86,171.66

Average Number of Children

1.38

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

10.8 %

High school certificate or equivalent

29.98 %

Apprenticeship trade certificate/diploma

5.36 %

College/non-university certificate

24.25 %

University certificate (below bachelor)

2.03 %

University Degree

27.57 %

Commuter

Travel To Work

By Car

64.86 %

By Public Transit

15.84 %

By Walking

16.39 %

By Bicycle

0.08 %

By Other Methods

2.83 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

94.48 %

Houses

5.52 %

376 BURWELL STREET, London East (East G), Ontario, N6B 2W2