1467 Mclarenwood Terrace For Sale

London, East O, N5W 1X8

$725,000

Description

Listed by EXP REALTY.

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.

Location

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  • Address: 1467 Mclarenwood Terrace
  • Neighborhood: East O
  • City: London
  • State: Ontario
  • Postal Code: N5W 1X8

Property Details

  • Property ID: X10433561
  • Property Price: $725,000
  • Style: Triplex, 2-Storey
  • Rooms: 8+4
  • Bedrooms: 4+2
  • Bath: 3
  • Parking Spaces: 6
  • Year Built: 51-99
  • Basement: Apartment, Fin W/O
  • Den: Y
  • Exterior: Brick
  • Heating: Other
  • Fireplace: N
  • Taxes: $4,405.00 (2024)
  • Acreage: < .50 Acres
  • Lot: 107.12x45.16 (Feet) - 107.12 ft x 45.13ftx111.00ft x 45.16ft

Room details and dimensions

Statistics for similar Triplex homes in East O

The graph below compares the average list price and average sale price of homes in this neighborhood by month for the last 24 months. When average sale price is greater than average list price, this may suggest a buyer's market. When average sale price is lower than the average list price this may suggest a seller's market.

Average days on market for similar Triplex homes in East O

The graph below illustrates the average days on market for homes in this neighborhood. The yellow area may indicate a buyer's market, the green area may indicate a balanced market and the red area may indicate a seller's market.

Number of transactions for similar Triplex homes in East O

Property History

This property has been sold 1 time before. To view this property's sale price history please sign in or register:


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  • Contact Manoj Kukreja

    Sales Representative, Re/max Premier Inc., Brokerage
    (647) 576 - 2100

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