REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 645,000
Est. payment /mo
New
552 ADELAIDE STREET N London, ON N6B3J5
5 Beds
2 Baths
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision East G
MLS® Listing ID X11932633
Bedrooms 5
Originating Board London and St. Thomas Association of REALTORS®
Property Description
Great investment property close to downtown with short bus rides to both of Fanshawe College and Western University. Fully tenanted property with total rental income of $3800 per month (upper leased until Aug 2025 - $1650, and main is March 2025 - $2150) with tenants paying all utilities. Tenants are planning on staying. Fully funded this property has a capitalization rate between 5.5% and 6% meaning right from the start it is cash flow positive. Building was cleaned up and renovated in 2023 so very little can be expected in terms of maintenance fees for the next few years. Rents are slightly below market value meaning this building will perform more strongly and be an even better addition to your portfolio as time progresses. This yellow brick home sits on the edge of Woodfield and Old East Village. The main floor has 2 large bedrooms plus a basement with additional room. The upper has 1 bedroom plus den, both with in suite laundry. Property is being sold fully furnished excluding tenants belongings. Parking is at the rear of the building and access is off of Princess. (id:24570)
Location
Province ON
Interior
Heating Forced air
Fireplaces Number 1
Fireplaces Type Insert
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 4
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Listed by INITIA REAL ESTATE (ONTARIO) LTD