246 Greenwood Avenue London South, Ontario N6J 3G4
$1,469,000
Purpose-built four-plex that has been comprehensively renovated with major capital systems addressed, including updated electrical and plumbing throughout, new windows, modern kitchens and bathrooms, full basement waterproofing in all four units, rebuilt walkways, and new paving-stone patios. Each unit currently offers two main-floor bedrooms and a full basement that has already been professionally roughed in for two additional bedrooms, a bathroom, and a family room. Basement completion is estimated at under $100,000 total and presents a clear value-add opportunity, with projected rental upside of approximately $740 per month per unit. Two units are currently leased at $1,800 per month plus utilities, with two vacant units providing immediate opportunity to stabilize or reposition rents. At full occupancy at current rents, annual gross income is projected at $91,200. Upon basement completion, projected net operating income increases to approximately $109,154, resulting in an estimated 6.5% cap rate. (id:61716)
Property Details
| MLS® Number | X12703186 |
| Property Type | Multi-family |
| Neigbourhood | Southcrest |
| Community Name | South D |
| Features | Hillside, Wooded Area, Flat Site |
| ParkingSpaceTotal | 8 |
Building
| BathroomTotal | 4 |
| BedroomsAboveGround | 8 |
| BedroomsTotal | 8 |
| Age | 51 To 99 Years |
| Amenities | Separate Electricity Meters |
| Appliances | Water Heater |
| BasementDevelopment | Partially Finished |
| BasementType | Full (partially Finished) |
| CoolingType | Wall Unit |
| ExteriorFinish | Brick |
| FoundationType | Poured Concrete |
| HeatingFuel | Electric |
| HeatingType | Heat Pump |
| SizeInterior | 2500 - 3000 Sqft |
| Type | Fourplex |
| UtilityWater | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| SizeDepth | 249 Ft ,10 In |
| SizeFrontage | 53 Ft ,8 In |
| SizeIrregular | 53.7 X 249.9 Ft |
| SizeTotalText | 53.7 X 249.9 Ft |
https://www.realtor.ca/real-estate/29259171/246-greenwood-avenue-london-south-south-d-south-d
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April 09 2026 12:02:12
London and St. Thomas Association of REALTORS®
Prime Real Estate Brokerage
