For Sale: 231 Greenwood Avenue, London, ON - REW
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$1,799,000
14 bd • 6 ba • 2500 - 2999 sf • Multifamily
231 Greenwood Avenue
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$1,799,000
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231 Greenwood AvenueLondon, ON, N6J 3G5

Southcrest
  • 14 Bed
  • 6 Bath
  • 2500 - 2999 Sqft
  • Multifamily

About this home

Purpose-built fourplex now converted to a 6-unit income property, with City-approved plans for an 8-unit build-out. All units are FULLY RENOVATED TOP TO BOTTOM, offering immediate cash flow with significant upside. Presently the 2 bedroom upper rented at $1800p/m plus utilities and two 2 bedroom lower units rented at $1600p/m plus utilities. The other two units are 2+1 bedrooms with a finished basements and lower levels roughed in for a 2nd bedroom and kitchen at $2100p/m plus utilities.. Water and Taxes are $11789 for 2025..Present Gross annual Income $132,000. Net income $114,919.83 representing a cap rate of 6.4...Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 with a potential net income of $146,119.03 representing a cap rate 8.2. Asking price includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings in place with 8x2 development approximately 75% complete." Over $400,000 value upside potential based on developed property income. (id:63626)
Listed by: TREVOR TYSON, Sales Representative, PRIME REAL ESTATE BROKERAGE

Home facts and features

Price details
List Price
$1,799,000
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Gross Taxes for 2026
$6,136
Home facts
Bedrooms
14
Full Bathrooms
6
Parking Spaces
6
Parking Details
No Garage, Shared
Property Type
Multifamily
Depth
198 feet
Frontage
66.0 feet
Exterior Finish
Brick
Heating Type
Heat Pump, Natural gas
Cooling
Central air conditioning
Basement Details
Finished,
Features
Flat site, Lane
Appliances
Water meter
Community
Agent details
Primary Agent
TREVOR TYSON
Primary Broker
PRIME REAL ESTATE BROKERAGE
Listing details
Days on REW
67 Days
Property Views
32
MLS® Number
X12971596
Source
Canadian Real Estate Association
Board
London and St. Thomas Association of REALTORS®
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Property Insights

Kensal Park Public School
  • Public
  • K - 8
É Élém C Frère André
  • Catholic
  • JK - 6
Woodland Heights Public School
  • Public
  • JK - 8
Westminster Secondary School
  • Public
  • 9 - 12
Victoria Public School
  • Public
  • JK - 8
St Martin School
  • Catholic
  • JK - 8
Arthur Ford Public School
  • Public
  • JK - 8
Notre Dame School
  • Catholic
  • JK - 8
Eagle Heights Public School
  • Public
  • JK - 8
Wortley Road Public School
  • Public
  • JK - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Sales Representative
TREVOR TYSON
Phone:
(519) 673-3390
Office:
519-473-9992
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