49 Paddington Avenue London, Ontario N6J 2S5
$799,000
Look no further than this fully renovated seperately metered Three Unit income property in Manor Park. This hidden gem works as an ideal seemless compliment to exisiting porfolios or as a fresh and friendly advent into the real estate investing world. This property has been creatively designed to keep all the living space of its units above grade; with all units being renovated and all major elements being replaced or upgraded recently; with bonus storage rented units below grade as an additional income stream. Located just West of Wortley Village and surounded by lovely nature spaces including Euston Park and The Coves; which offers an unexpected and welcome disconnect from the intense urban elements. This is perfectly complemented as it offers very close access to the major transportation routes for public transit and is situated near to shopping centres. This fully tenanted property offers an annual income of $55,000 makiing this property a prime candidate for a cash flowing asset; with over a 6% Cap Rate at asking. The newly renovated basement space allows for additional income with storage units and features new appliances including two washers and two dryers for usage between the tenants; a reflection almost all the properties applinces being recetly upgraded. (id:19173)
Property Details
| MLS® Number | 40578169 |
| Property Type | Multi-family |
| Amenities Near By | Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping |
| Community Features | Community Centre, School Bus |
| Equipment Type | Water Heater |
| Features | Shared Driveway |
| Parking Space Total | 6 |
| Rental Equipment Type | Water Heater |
| Structure | Shed, Porch |
Building
| Bathroom Total | 3 |
| Bedrooms Total | 6 |
| Appliances | Microwave, Window Coverings, Hot Tub |
| Basement Development | Unfinished |
| Basement Type | Partial (unfinished) |
| Exterior Finish | Concrete, Vinyl Siding, Shingles |
| Foundation Type | Block |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 2 |
| Size Interior | 1441 |
| Type | Triplex |
| Utility Water | Municipal Water |
Land
| Access Type | Road Access |
| Acreage | No |
| Fence Type | Fence |
| Land Amenities | Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 98 Ft |
| Size Frontage | 35 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | R1-4 |
https://www.realtor.ca/real-estate/26803350/49-paddington-avenue-london
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April 30 2024 11:39:47
London and St. Thomas Association of REALTORS®
Exp Realty, Brokerage