6 Bedroom
4 Bathroom
2,000 - 2,500 ft2
Baseboard Heaters
$729,900
Turnkey fourplex generating approximately $5,500 in gross monthly income, or about $66,000 annually. After mortgage, insurance, and utilities, the property maintains a net positive cash flow, offering an estimated return of over 7%. The building includes four fully renovated units, each with its own kitchen and bath. Unit #1 rents for $1,750/month and features 2 bedrooms, a living room, kitchen, and bath. Unit #2 rents for $1,050/month, Unit #3 for $1,332.50/month, and Unit #4 for $1,230/month - each with 1 bedroom, kitchen, and bath. Coin laundry adds an additional $150/month. This solid brick building sits on a deep lot with over 5 parking spaces and zoning potential for rear parking. It includes 5 total bedrooms, 4 full bathrooms, and 4 kitchens, with 4 separate hydro meters. Additional features include baseboard electric heating in all units, a coin-operated washer and dryer, and a dedicated storage and utility room. The property is fully tenanted and ready for immediate cash flow. (id:49712)
Property Details
MLS® Number
|
X12469490 |
Property Type
|
Multi-family |
Community Name
|
East K |
Features
|
Carpet Free |
Parking Space Total
|
5 |
Building
Bathroom Total
|
4 |
Bedrooms Above Ground
|
5 |
Bedrooms Below Ground
|
1 |
Bedrooms Total
|
6 |
Appliances
|
Dryer, Stove, Washer, Refrigerator |
Basement Development
|
Finished |
Basement Type
|
N/a (finished) |
Exterior Finish
|
Brick |
Foundation Type
|
Concrete |
Heating Fuel
|
Electric |
Heating Type
|
Baseboard Heaters |
Stories Total
|
2 |
Size Interior
|
2,000 - 2,500 Ft2 |
Type
|
Fourplex |
Utility Water
|
Municipal Water |
Parking
Land
Acreage
|
No |
Sewer
|
Sanitary Sewer |
Size Depth
|
197 Ft ,8 In |
Size Frontage
|
38 Ft ,7 In |
Size Irregular
|
38.6 X 197.7 Ft |
Size Total Text
|
38.6 X 197.7 Ft |
https://www.realtor.ca/real-estate/29004894/184-simcoe-street-london-east-east-k-east-k