London South N6J 1R8 Ontario
MLS: X12455864
Added 5 hours ago | For Sale
Listed by: EXP REALTY
This newly recognized legal triplex with rental license in place features a bonus unit offering addtional income potential or an ideal owner ocuppy/ mortgage helper situation (this unit is currently avialable with vacant possession). With a projected Cap Rate of 8.6%+, projected net operating income (NOI) of over $60,000 annually, this could make an ideal cash flowing asset to start the income property journey for a first time investor or effectively compliment an existing portfolio. Over $100,000 was invested during the current ownership to max out the potential of this asset with extensive upgrades on the exterior and especially to the interior of the property. The units were all turned over to bring in quality tenants paying market rents. The property includes a main level four bedroom unit with in suite laundry and two full bathrooms; a four piece common area washroom and en-suite three piece bathroom off the primary bedroom. The upper unit includes a sizeable bedroom and three piece bathroom with upgraded staircase providing access to the unit. Finally, the lower level is not outdone; including a legal walk out unit with modern kitchen and three piece bath that opens out directly at ground level to the greenspace of the backyard featuring massive old growth trees. Also showcased on the lower level is the a walkup side access studio unit with en suite laundry and a three piece bathroom. All appliances are bring graciously included to help enhance the turnkey takeover. Some key highlights from the improvements made include new kitchens, bathrooms, laundry, and storage areas inside and out. Energy efficient upgrades include a smart thermostat. Fire and safety improvements include sprinklers, egress windows, and deadbolted fire doors. High quality finishes have been added including quartz countertops and tiled showers. Manor Park is an ever improving community with direct transit access, great green spaces including Eustace Park/The Coves, and ample ammenities.
| Level | Type | Features | Dimensions |
|---|---|---|---|
| Main | Kitchen | 9 ft, 8 in x 11 ft, 7 in | |
| Bedroom | 9 ft, 9 in x 7 ft, 2 in | ||
| Bedroom 2 | 7 ft, 7 in x 10 ft | ||
| Bedroom 3 | 7 ft, 7 in x 12 ft, 6 in | ||
| Primary Bedroom | 15 ft x 10 ft, 1 in | ||
| Living Room | 8 ft, 3 in x 10 ft | ||
| Bathroom | 4 Pc Bath | 4 ft, 11 in x 6 ft, 8 in | |
| Bathroom | 3 Pc Ensuite | 7 ft, 2 in x 4 ft | |
| Second | Bedroom | 13 ft, 3 in x 11 ft, 11 in | |
| Living Room | 7 ft, 9 in x 12 ft | ||
| Kitchen | 5 ft, 10 in x 12 ft, 11 in | ||
| Bathroom | 3 Pc Bath | 2 ft, 11 in x 9 ft | |
| Lower | Kitchen | 9 ft, 3 in x 9 ft, 5 in | |
| Bedroom | Combined w/Living | 10 ft, 3 in x 10 ft, 10 in | |
| Bathroom | 3 Pc Bath | 3 ft, 11 in x 6 ft, 7 in | |
| Kitchen | 9 ft, 3 in x 12 ft, 8 in | ||
| Living Room | 16 ft, 5 in x 10 ft, 11 in | ||
| Bathroom | 3 Pc Bath | 7 ft, 1 in x 3 ft, 11 in |
No property rooms available.
