Multiplex · London South
231 Greenwood Avenue, London South, ON N6J 3G5
London South
Active
Locked
Your next advantage
Know more before you offer.
Verified members see the RCIB Estimate, its range, and comparable sales.
Room to make it yours.
Purpose-built fourplex now converted to a 6-unit income property, with City-approved plans for an 8-unit build-out. All units are FULLY RENOVATED TOP TO BOTTOM, offering immediate cash flow with significant upside. Presently the 2 bedroom upper rented at $1800p/m plus utilities and two 2 bedroom lower units rented at $1600p/m plus utilities. The other two units are 2+1 bedrooms with a finished basements and lower levels roughed in for a 2nd bedroom and kitchen at $2100p/m plus utilities.. Water and Taxes are $11789 for 2025..Present Gross annual Income $132,000. Net income $114,919.83 representing a cap rate of 6.4...Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 with a potential net income of $146,119.03 representing a cap rate 8.2. Asking price includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings in place with 8x2 development approximately 75% complete." Over $400,000 value upside potential based on developed property income.
The story behind the price.
Your next advantage
Every chapter. Every price.
Verify your account to explore this home’s listing and sold history.
Picture your everyday.
Travel times vary. Confirm school eligibility and boundaries with the school board.
MLS® X12971596 · Listed by PRIME REAL ESTATE BROKERAGE
Information deemed reliable but not guaranteed accurate.
Your daily journey.
Travel times depend on route, traffic and service schedules.
Around this home.
Confirm eligibility and school boundaries directly with the school board.