$1,799,000
231 Greenwood Avenue, London South, ON N6J 3G5
14 beds6 baths6 parking 2500-3000 ft²
Key facts
- MLS®
- X12971596
- Status
- New
- Type
- Multiplex
- Taxes
- $6,136
- Size
- 2500-3000 ft²
- Parking
- 6 total
- Listed
- 2026-04-08
- Brokerage
- PRIME REAL ESTATE BROKERAGE
- Cross street
- Springbank Dr.
Description
Purpose-built fourplex now converted to a 6-unit income property, with City-approved plans for an 8-unit build-out. All units are FULLY RENOVATED TOP TO BOTTOM, offering immediate cash flow with significant upside. Presently the 2 bedroom upper rented at $1800p/m plus utilities and two 2 bedroom lower units rented at $1600p/m plus utilities. The other two units are 2+1 bedrooms with a finished basements and lower levels roughed in for a 2nd bedroom and kitchen at $2100p/m plus utilities.. Water and Taxes are $11789 for 2025..Present Gross annual Income $132,000. Net income $114,919.83 representing a cap rate of 6.4...Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 with a potential net income of $146,119.03 representing a cap rate 8.2. Asking price includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings in place with 8x2 development approximately 75% complete." Over $400,000 value upside potential based on developed property income.
IDX listing data provided by AMPRE / TRREB. Information is believed reliable but not guaranteed.