552 Adelaide Street N London, Ontario N6B 3J5
$645,000
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:61716)
Property Details
| MLS® Number | X11932633 |
| Property Type | Multi-family |
| Neigbourhood | Old East Village |
| Community Name | East G |
| ParkingSpaceTotal | 4 |
Building
| BathroomTotal | 2 |
| BedroomsAboveGround | 3 |
| BedroomsBelowGround | 2 |
| BedroomsTotal | 5 |
| Appliances | Water Heater, Furniture |
| BasementDevelopment | Partially Finished |
| BasementType | N/a (partially Finished) |
| ExteriorFinish | Brick |
| FireplacePresent | Yes |
| FireplaceTotal | 1 |
| FireplaceType | Insert |
| FoundationType | Stone |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air |
| StoriesTotal | 2 |
| Type | Duplex |
| UtilityWater | Municipal Water |
Parking
| Tandem |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| SizeDepth | 120 Ft ,3 In |
| SizeFrontage | 31 Ft ,3 In |
| SizeIrregular | 31.28 X 120.29 Ft |
| SizeTotalText | 31.28 X 120.29 Ft |
| ZoningDescription | Ac4 |
https://www.realtor.ca/real-estate/27823182/552-adelaide-street-n-london-east-g
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March 25 2025 02:21:55
London and St. Thomas Association of REALTORS®
Initia Real Estate (Ontario) Ltd
