246 Wharncliffe Road S Active Save Request In-Person Tour Request Virtual Tour
London,ON N6J 2L4
Key Details
Property Type Multi-Family
Sub Type Multi-6-9 Unit
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $328
MLS Listing ID 40698463
Bedrooms 5
Abv Grd Liv Area 3,000
Originating Board Hamilton - Burlington
Annual Tax Amount $2,226
Property Sub-Type Multi-6-9 Unit
Property Description
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
Province ON
County Middlesex
Area South
Zoning AC2(1)
Direction SOUTH OF HORTON ST ON WHARNCLIFFE RD S, ON EAST SIDE.
Rooms
Other Rooms Storage
Basement Full,Partially Finished
Kitchen 0
Interior
Interior Features None
Heating Forced Air
Cooling None
Fireplace No
Laundry None
Exterior
Parking Features Other
Fence Fence - Partial
Roof Type Flat
Handicap Access None
Lot Frontage 25.0
Lot Depth 90.0
Garage No
Building
Lot Description Rectangular,Public Transit,Schools,Shopping Nearby
Faces SOUTH OF HORTON ST ON WHARNCLIFFE RD S, ON EAST SIDE.
Story 2
Foundation Poured Concrete
Sewer Sewer (Municipal)
Water Municipal
Structure Type Stucco
New Construction No
Others
Senior Community No
Tax ID 083890089
Ownership Freehold/None