London South - South D
London South - South D
Sold For$470,000
Listed For $499,900
Sold Mar 2020
FANTASTIC INVESTMENT OPPORTUNITY FOR A LEGAL TRIPLEX ON A HUGE LOT RIGHT BY SPRINGBANK PARK, BUS ROUTES & 5 MINUTES FROM DOWNTOWN. MAIN FLOOR (2 BDRM UNIT) AND BACK COTTAGE (1BDRM UNIT) ARE VACANT AND RENOVATED, PERFECT OPPORTUNITY TO SET RENT AT CURRENT MARKET VALUE. UPPER (1 BDRM UNIT) CURRENTLY RENTED AT $750/MTH WITH AMAZING, RELIABLE LONG TERM TENANT. ALL 3 UNITS INCLUDE FULL KITCHENS, 4 PC BATH AND LIVING ROOMS. PROPERTY ALSO INCLUDES A SINGLE CAR GARAGE (GREAT FOR STORAGE) AND AN OVERSIZED INSULATED DOUBLE CAR GARAGE/WORKSHOP WITH MORE INCOME POTENTIAL. WITH CURRENT AVERAGE MARKET RENTS AT $1125/MTH FOR A 1 BDRM AND $1757/MTH FOR A 2 BDRM, NET INCOME POTENTIAL FOR THIS PROPERTY IS ESTIMATED AT OVER 38K ANNUALLY (NOT INCLUDING THE GARAGE). THIS LEAVES YOU WITH AN INCREDIBLE 7.6% CAP
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