149 FOREST HILL AVENUE

Multi-family For Sale in London, Ontario

$499,900
  • 5 Beds
  • 4 Baths
  • Built 1950

FANTASTIC INVESTMENT OPPORTUNITY FOR A LEGAL TRIPLEX ON A HUGE LOT RIGHT BY SPRINGBANK PARK, BUS ROUTES & 5 MINUTES FROM DOWNTOWN. MAIN FLOOR (2 BDRM UNIT) AND BACK COTTAGE (1BDRM UNIT) ARE VACANT AND RENOVATED, PERFECT OPPORTUNITY TO SET RENT AT CURRENT MARKET VALUE. UPPER (1 BDRM UNIT) CURRENTLY RENTED AT $750/MTH WITH AMAZING, RELIABLE LONG TERM TENANT. ALL 3 UNITS INCLUDE FULL KITCHENS, 4 PC BATH AND LIVING ROOMS. PROPERTY ALSO INCLUDES A SINGLE CAR GARAGE (GREAT FOR STORAGE) AND AN OVERSIZED NSULATED DOUBLE CAR GARAGE/WORKSHOP WITH MORE INCOME POTENTIAL. WITH CURRENT AVERAGE MARKET RENTS AT $1125/MTH FOR A 1 BDRM AND $1757/MTH FOR A 2 BDRM, NET INCOME POTENTIAL FOR THIS PROPERTY IS ESTIMATED AT OVER 38K ANNUALLY (NOT INCLUDING THE GARAGE). THIS LEAVES YOU WITH AN INCREDIBLE 7.6% CAP RATE AND POTENTIAL FOR GROWTH. DON'T MISS THIS OPPORTUNITY TO INVEST IN YOUR FUTURE IN LONDON'S BOOMING RENTAL MARKET. (id:4069)

Address 149 FOREST HILL AVENUE
List Price 499,900
Property Type Multi-family
Type of Dwelling Multi-Family
Style of Home Multi-Unit
Area Ontario
Sub-Area London
Bedrooms 5
Bathrooms 4
Year Built 1950
MLS® Number 242072
Listing Brokerage STREETCITY REALTY INC.
Postal Code N6J2Z3

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Deb Dorman

StreetCity Realty Inc., Brokerage

519 York Street London Ontario N6B 4R1

Mobile: 519-859-4874

Toll Free: 1-866-340-2305

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