246 Wharncliffe Road For Sale

London, South F, N6J 2L4

$985,000

Description

Listed by ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES.

This 6-unit multifamily property, located near Downtown, Wortley Village, and a major bus route, offers an excellent investment opportunity with significant value-add potential. With 2 of the 6 units left vacant on purpose, the new owner can set new rents and maximize returns. The building includes a mix of unit types: 1-2 bedroom, 3-1 bedroom, and 2 bachelor units. Recent renovations include a stucco exterior (2021), roof with spray foam silicone system (2021), and full insulation of exterior walls and ceilings (2021). All windows and doors were replaced in 2021, reducing future maintenance costs. Most units have been updated with new bathrooms. The property features 2 upgraded 200-amp electrical panels, a high-efficiency forced air gas furnace, and low utility costs. A workshop/storage building at the rear provides additional income potential. Zoned AC2 (1), this property is well-positioned for future growth and rental demand. Projected cash flow of $75,600 per year, with the opportunity to increase returns by filling vacant units at market rates. A solid investment for those seeking to add a high-potential multifamily asset to their portfolio. (39879369)

Location

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  • Address: 246 Wharncliffe Road
  • Neighborhood: South F
  • City: London
  • State: Ontario
  • Postal Code: N6J 2L4

Property Details

  • Property ID: X11970467
  • Property Price: $985,000
  • Style: Multiplex, 2-Storey
  • Rooms: 6
  • Bedrooms: 7
  • Bath: 6
  • A/C: Other
  • Basement: Apartment
  • Central Vac.: N
  • Den: N
  • Exterior: Stucco/Plaster
  • Heating: Forced Air
  • Fireplace: N
  • Taxes: $2,226.20 (2024)
  • Lot: 90.00x25.50 (Feet)

Property History

This property has been sold 3 times before. To view this property's sale price history please sign in or register:


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Contact Manoj Kukreja

Sales Representative, Century 21 People’s Choice Realty Inc., Brokerage
(647) 576 - 2100