Address: 231 GREENWOOD AVENUE, London South (South D) FOR SALE Postal Code: N6J3G5 Style: Type: Multi-family Other Bedrooms: 14 Bathrooms: 6 Bedrooms Aboveground: 14 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 fourplex now converted to a 6-unit income property, with City-approved plans for an 8-unit build-out. All units are FULLY RENOVATED TOP TO BOTTOM, offering immediate cash flow with significant upside. Presently the 2 bedroom upper rented at $1800p/m plus utilities and two 2 bedroom lower units rented at $1600p/m plus utilities. The other two units are 2+1 bedrooms with a finished basements and lower levels roughed in for a 2nd bedroom and kitchen at $2100p/m plus utilities.. Water and Taxes are $11789 for 2025..Present Gross annual Income $132,000. Net income $114,919.83 representing a cap rate of 6.4...Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 with a potential net income of $146,119.03 representing a cap rate 8.2. Asking price includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings in place with 8x2 development approximately 75% complete." Over $400,000 value upside potential based on developed property income. (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: Turn south off Springbank Dr onto Greenwood Av. on the west side. Interior Size: 2500 - 3000 sqft Lot: 66 x 198 FT 66 x 198 FT Exterior Finish: Brick Water: Municipal water, Sanitary sewer Heating / Cooling: Electric / Central air conditioning Age: 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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