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$999,900

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

MLS® # X12665316

London East (East G) ON, N6B 2W2

MLS® # X12665316

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

REALTOR.ca  

Potential Investment Performance

There is not enough data on this property to provide a potential investment performance at this time, please click the button below for an in-person valuation

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

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 %

Own Vs. Rent