Property Information:

Purpose-built four-plex that has been comprehensively renovated with major capital systems addressed, including updated electrical and plumbing throughout, new windows, modern kitchens and bathrooms, full basement waterproofing in all four units, rebuilt walkways, and new paving-stone patios. Each unit currently offers two main-floor bedrooms and a full basement that has already been professionally roughed in for two additional bedrooms, a bathroom, and a family room. Basement completion is estimated at under $100,000 total and presents a clear value-add opportunity, with projected rental upside of approximately $740 per month per unit. Two units are currently leased at $1,800 per month plus utilities, with two vacant units providing immediate opportunity to stabilize or reposition rents. At full occupancy at current rents, annual gross income is projected at $91,200. Upon basement completion, projected net operating income increases to approximately $109,154, resulting in an estimated 6.5% cap rate. (id:27)

Building Features:

Style: Multiplex
Building Type: Fourplex
Air Conditioning: Yes
Amenities: Separate Hydro Meters
Basement Development: Partially finished
Basement Type: Full
Exterior Finish: Brick
Floor Space: 2500 - 3000 sqft
Foundation Type: Poured Concrete
Heating Type: Heat Pump, Not known
Heating Fuel: Electric, Electric
Cooling Type: Wall unit
Appliances:

Property Features:

Property Type: Multi-family
Bedrooms: 8
Bathrooms: 4
Features: Hillside, Wooded area, Flat site
Floor Space (approx): 2500 - 3000 Square Feet
Irregular: Yes
Lot Depth: 249.8 Feet
Lot Frontage: 53.7 Feet
Lot Size: 53.7 x 249.9 FT
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 8

Courtesy of: PRIME REAL ESTATE BROKERAGE

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Demographic Information of 246 GREENWOOD AVENUE, London South (South D), Ontario, N6J 3G4

Life Stage

Midlife Families

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$98,293.50

Average Number of Children

1.72

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

19.87 %

High school certificate or equivalent

29.28 %

Apprenticeship trade certificate/diploma

7.44 %

College/non-university certificate

26.5 %

University certificate (below bachelor)

0.24 %

University Degree

16.66 %

Commuter

Travel To Work

By Car

85.74 %

By Public Transit

5.77 %

By Walking

4.59 %

By Bicycle

1.2 %

By Other Methods

2.7 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

27.72 %

Houses

72.28 %

246 GREENWOOD AVENUE, London South (South D), Ontario, N6J 3G4