1467 Mclarenwood Terrace London, Ontario N5W 1X8
$725,000
Investors, take note! This turnkey triplex is a rare opportunity to own or live in one of the units while enjoying a well-maintained income property in a desirable family-friendly neighbourhood. Fully licensed and fire inspected. Offering three spacious two-bedroom units, the property has been updated with modern kitchens, bathrooms and flooring, as well as updated heating, plumbing, and electrical systems. Roofing was updated in 2019. Projected to generate $40,630 in gross rental income for 2024, with operating expenses estimated at $11,826, the property is set to achieve a net income of approximately $28,804. With its fair market rental potential of $64,200 annually, this property offers both immediate returns and exciting long-term growth potential. Current rents for the middle and lower units are $1,225 per month, including utilities, with reliable, long-term tenants who wish to stay. The recently vacated upper unit provides an excellent option for owner-occupancy or securing a new tenant at market rent of $1,750 or more. On-site coin laundry is available. Additional highlights include ample parking and a private rear yard, all within close proximity to parks, schools, and public transit. Whether youre a seasoned investor or just starting your portfolio, this low-maintenance, high-performing property is an exceptional opportunity. (id:39382)
Property Details
| MLS® Number | X10433561 |
| Property Type | Single Family |
| Community Name | East O |
| Features | Irregular Lot Size |
| ParkingSpaceTotal | 6 |
Building
| BathroomTotal | 3 |
| BedroomsAboveGround | 4 |
| BedroomsBelowGround | 2 |
| BedroomsTotal | 6 |
| Appliances | Water Heater, Dishwasher, Refrigerator, Stove |
| BasementDevelopment | Finished |
| BasementFeatures | Apartment In Basement, Walk Out |
| BasementType | N/a (finished) |
| ExteriorFinish | Brick |
| FoundationType | Block |
| HeatingFuel | Natural Gas |
| HeatingType | Other |
| StoriesTotal | 2 |
| Type | Triplex |
| UtilityWater | Municipal Water |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| SizeDepth | 107 Ft ,1 In |
| SizeFrontage | 45 Ft ,1 In |
| SizeIrregular | 45.16 X 107.12 Ft ; 107.12 Ft X 45.13ftx111.00ft X 45.16ft |
| SizeTotalText | 45.16 X 107.12 Ft ; 107.12 Ft X 45.13ftx111.00ft X 45.16ft|under 1/2 Acre |
| ZoningDescription | R3-2 |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | Kitchen | 3.357 m | 4.892 m | 3.357 m x 4.892 m |
| Second Level | Living Room | 6.772 m | 3.297 m | 6.772 m x 3.297 m |
| Second Level | Bedroom | 3.355 m | 3.818 m | 3.355 m x 3.818 m |
| Second Level | Bedroom 2 | 2.734 m | 3.377 m | 2.734 m x 3.377 m |
| Second Level | Living Room | 6.71 m | 3.289 m | 6.71 m x 3.289 m |
| Second Level | Bedroom | 3.351 m | 3.84 m | 3.351 m x 3.84 m |
| Second Level | Bedroom 2 | 2.76 m | 3.315 m | 2.76 m x 3.315 m |
| Lower Level | Bedroom | 3.217 m | 3.164 m | 3.217 m x 3.164 m |
| Lower Level | Bedroom 2 | 3.196 m | 2.839 m | 3.196 m x 2.839 m |
| Lower Level | Kitchen | 4.783 m | 3.171 m | 4.783 m x 3.171 m |
| Lower Level | Living Room | 4.583 m | 3.208 m | 4.583 m x 3.208 m |
| Main Level | Kitchen | 4.876 m | 3.357 m | 4.876 m x 3.357 m |
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November 21 2024 02:22:16
London and St. Thomas Association of REALTORS®
Exp Realty