246 Wharncliffe Road S London, Ontario N6J 2L4
$985,000
This 6-unit multifamily property, located near Downtown, Wortley Village, and a major bus route, offers an excellent investment opportunity with significant value-add potential. With 2 of the 6 units left vacant on purpose, the new owner can set new rents and maximize returns. The building includes a mix of unit types: 1-2 bedroom, 3-1 bedroom, and 2 bachelor units. Recent renovations include a stucco exterior (2021), roof with spray foam silicone system (2021), and full insulation of exterior walls and ceilings (2021). All windows and doors were replaced in 2021, reducing future maintenance costs. Most units have been updated with new bathrooms. The property features 2 upgraded 200-amp electrical panels, a high-efficiency forced air gas furnace, and low utility costs. A workshop/storage building at the rear provides additional income potential. Zoned AC2 (1), this property is well-positioned for future growth and rental demand. Projected cash flow of $75,600 per year, with the opportunity to increase returns by filling vacant units at market rates. A solid investment for those seeking to add a high-potential multifamily asset to their portfolio. (id:55499)
Business
| Business Type | Residential |
| Business Sub Type | Apartments |
Property Details
| MLS® Number | X11970286 |
| Property Type | Multi-family |
| Community Name | South F |
Building
| Cooling Type | Partially Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Other |
| Size Exterior | 3000 Sqft |
| Size Interior | 3000 Sqft |
| Type | Multi-family |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 90 Ft |
| Size Frontage | 25 Ft ,6 In |
| Size Irregular | Bldg=25.5 X 90 Ft |
| Size Total Text | Bldg=25.5 X 90 Ft |
| Zoning Description | Ac2 |
https://www.realtor.ca/real-estate/27909083/246-wharncliffe-road-s-london-south-f
Interested?
Contact us for more information
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
February 12 2025 09:37:15
Toronto Real Estate Board
Royal LePage Burloak Real Estate Services