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$ 645,500
Est. payment /mo
New
552 Adelaide ST N London East, ON N6B 3J5
4 Beds
2 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500-2000
Subdivision East G
MLS Listing ID X12563014
Style 2-Storey
Bedrooms 4
Annual Tax Amount $2,674
Tax Year 2024
Property Sub-Type Duplex
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 $3645 per month (upper leased until Nov 2026 - $1495, and main is month to month - $2150) with tenants paying all utilities. Tenants are planning on staying. Fully funded this property has a capitalization rate about 5.5% 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.
Location
Province ON
County Middlesex
Community East G
Area Middlesex
Rooms
Family Room No
Basement Partially Finished
Kitchen 2
Interior
Interior Features Primary Bedroom - Main Floor
Cooling Central Air, Window Unit(s)
Fireplaces Type Fireplace Insert
Fireplace Yes
Heat Source Electric
Exterior
Exterior Feature Deck, Patio
Pool None
Roof Type Asphalt Shingle,Metal
Lot Frontage 32.0
Lot Depth 120.0
Total Parking Spaces 4
Building
Foundation Block
Others
ParcelsYN No
Virtual Tour https://youtu.be/o6u_urwYF7s
Listed by SUTTON GROUP - SELECT REALTY