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231 Greenwood AVE London South, ON N6J 3G5
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Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500-3000
Subdivision South D
MLS Listing ID X12467479
Style 1 Storey/Apt
Annual Tax Amount $6,135
Tax Year 2025
Property Sub-Type Fourplex
Property Description
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.
Location
Province ON
County Middlesex
Community South D
Area Middlesex
Zoning R3-2
Rooms
Family Room No
Basement Finished
Kitchen 0
Interior
Interior Features Separate Hydro Meter
Cooling Central Air
Exterior
Exterior Feature Patio
Parking Features Lane, Unreserved
Pool None
Roof Type Asphalt Shingle
Lot Frontage 66.0
Lot Depth 198.0
Total Parking Spaces 6
Building
Building Age 51-99
Foundation Poured Concrete
Others
Senior Community No
ParcelsYN Yes
Listed by PRIME REAL ESTATE BROKERAGE
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