Address: 231 GREENWOOD AVENUE, London South (South D) FOR SALE Postal Code: N6J3G5 Style: Type: Multi-family Fourplex Bedrooms: 0 Bathrooms: 0 Bedrooms Aboveground: 0 Parking: No Garage Garage: No Garage Lot Size: 66 ft x 198 ft Property Size: 66 x 198 FT
About 231 Greenwood Avenue
Purpose built four plex with 2 bedrooms in each unit with with strong valued opportunity with City of London approval to covert into an 8 plex with four 2 bedrooms on the main level and four 2 bedroom lower units. All units have been renovated from top to bottom. Presently 2 units have been converted into 2 bedroom upper and 2 bedroom lower units. The other 2 units are 2+1 bedrooms with a finished bathroom and lower levels roughed in for a 2nd bedroom and kitchen. Strong value-add opportunity with upside already approved. Conversion will increase NOI by over $30,000 annually and lift valuation by approximately $432,000. Present Gross annual Income $132,000 net $115,209.03 Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 net $146,119.03 at 6.5 cap bring valuation to $2,248,000. (id:56071). Get more information on 231 Greenwood Avenue
Property Features
Appliances: Water meter Features: Flat site, Lane Rental Equipment: Directions: Cross Streets: Springbank Dr. ** Directions: West on Springbank turning south onto Greenwood on the west side. Zoning Description: R3-2 Interior Size: 2500 - 3000 sqft Amenities: Separate Electricity Meters Lot: 66 x 198 FT|under 1/2 acre 66 x 198 FT Exterior Finish: Brick Water: Municipal water, Sanitary sewer Heating / Cooling: Natural gas / Central air conditioning Age: 51 to 99 years Foundation: Poured Concrete Basement: N/A (Finished) Finished
Rooms & Sizes
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John DiRenzo
Sales Representative RE/MAX Centre City John DiRenzo Team Brokerage
Direct Phone: (519) 857-3490
John DiRenzo, Salesperson. Cell: (519) 857-3490. RE/MAX Centre City John DiRenzo Team Brokerage.
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