981 Lorne Avenue, London East (East G) ON

About 981 Lorne Avenue

AMAZINGLY PRICED LONDON, ON DUPLEX! Superior Up-&-Down LEGAL DUPLEX (w/ TRI-PLEX potential*) in Old East Village! This well-maintained LEGAL duplex (formerly a TRI-PLEX) is ideally located in a desirable pocket of Old East Village, close to schools, playgrounds, shopping, Western Fair District, & countless other amenities. Featuring separate entrances & separate hydro meters, this property offers flexibility, privacy, & proven strong income. The spacious main unit spans two levels & offers 2 bedrooms with the potential to be used as 3 bedrooms (given the additional living space in lower level) along with an impressive 2 FULL bathrooms. This unit feels like a full house, making it perfect for owner-occupiers or families seeking space & comfort. Helping to offset your mortgage is a great upper-level tenant in the 1 bedroom/1 bathroom unit, creating an ideal live & earn opportunity! The home is in excellent overall condition, making for truly easy "landlording". Major upgrades were completed in 2013, including wiring, plumbing, furnace, & insulation (walls and attic). The roof was replaced in 2011, & renovated bathrooms, kitchen, & windows were completed in 2019. Two full sets of appliances are included. Additional highlights include loads of parking, a fully fenced yard w/ patio & handy garden shed, & a *walk-up lower level (SEPERATE ENTRANCE to LOWER) that could potentially be converted back to a triplex, unlocking even more income. This place is irrefutably loaded with value! Both units are currently rented month-to-month, offering flexibility for investors or owner-occupiers. Live in one unit with strong rental income, or rent both for maximum returns. Turn the key & go - such a good buy! Vacant possession of primary owner occupied 2-level unit available immediately if desired, or keep the owner in that unit at $2100/month + hydro. Excellent upper unit tenant on month to month terms at $1450 + hydro would be happy to stay. $42.6K per yr gross w/ minimal expenses (id:56071). Get more information on 981 Lorne Avenue

Property Features

Appliances:  All, Water Heater
Rental Equipment:  None
Directions:  Cross Streets: Woodman Ave. ** Directions: MAP to 981 LORNE AVE, LONDON, ON: Take Quebec to Lorne Ave, go East, and find this house 2 doors up on your right just steps to Boyle Community Centre and Playground.
Zoning Description:  R2-2
Interior Size:  1100 - 1500 sqft
Community Features:  Community Centre, School Bus
Access:  Year-round access
Lot:  38 x 61.3 FT 38 x 61.3 FT
Exterior Finish:  Brick
Water:  Municipal water, Sanitary sewer
Heating / Cooling:   Natural gas /
Age: 
Foundation: Poured Concrete
Basement:  N/A, N/A (Finished) Finished

Rooms & Sizes