London East - East B
London East - East B
Sold For$495,000
Listed For $499,900
Sold Jul 2014
Attention investors. Rare opportunity to own a fully rented legal non-conforming duplex on highly sought after street next to Kings College and UWO. This fantastic income property features 9 bedrooms in total and is fully licensed by the City of London. This property is deceivingly large and one of a kind on the street. The upper unit features 5 bedrooms that rent for $525 per room and the lower unit features 4 bedrooms that rent for $465 per room. All rooms are fully rented and on lease until April 30, 2015. This property has a history of 100 occupancy due it its close proximity to the University. Total annual revenue of $53,820, yielding a fantastic cap rate of nearly 8 percent (7.79 percent) after expenses. Upgrades include furnace, A/C (2014,2012) hard surface flooring upstairs (2013),
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