For Sale: 246 Greenwood Avenue, London, ON - REW
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$1,469,000
8 bd • 4 ba • 2500 - 2999 sf • Multifamily
246 Greenwood Avenue
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$1,469,000
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246 Greenwood AvenueLondon, ON, N6J 3G4

Southcrest
  • 8 Bed
  • 4 Bath
  • 2500 - 2999 Sqft
  • Multifamily

About this home

Purpose-built four-plex that has been comprehensively renovated with major capital systems addressed, including updated electrical and plumbing throughout, new windows, modern kitchens and bathrooms, full basement waterproofing in all four units, rebuilt walkways, and new paving-stone patios. Each unit currently offers two main-floor bedrooms and a full basement that has already been professionally roughed in for two additional bedrooms, a bathroom, and a family room. Basement completion is estimated at under $100,000 total and presents a clear value-add opportunity, with projected rental upside of approximately $740 per month per unit. Two units are currently leased at $1,800 per month plus utilities on a month to month basis with the understanding that the new owners may want vacant possession to finish the basements. At full occupancy at current rents, annual gross income is projected at $91,200. Upon basement completion, projected net operating income increases to approximately $109,154, resulting in an estimated 6.5% cap rate. (id:63626)
Listed by: TREVOR TYSON, Sales Representative, PRIME REAL ESTATE BROKERAGE

Home facts and features

Price details
List Price
$1,469,000
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Gross Taxes for 2025
$6,303
Home facts
Bedrooms
8
Full Bathrooms
4
Parking Spaces
8
Parking Details
No Garage, Shared
Property Type
Multifamily
Lot Size
55 ft x 249 ft (13744 ft²)
Depth
249.9 feet
Frontage
55.0 feet
Exterior Finish
Brick
Heating Type
Heat Pump, Electric
Cooling
Wall unit
Basement Details
Partially finished,
Features
Flat site, Hillside, Lane, Separate Electricity Meters, Separate Heating Controls, Wooded area
Community
Agent details
Primary Agent
TREVOR TYSON
Primary Broker
PRIME REAL ESTATE BROKERAGE
Secondary Agent
Secondary Broker
PRIME REAL ESTATE BROKERAGE
Listing details
Days on REW
7 Days
MLS® Number
X14159824
Source
Canadian Real Estate Association
Board
London and St. Thomas Association of REALTORS®
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25 Years
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3.99%

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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
Wortley Road Public School
  • Public
  • JK - 8
Notre Dame School
  • Catholic
  • JK - 8
Eagle Heights 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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Call Agent
Sales Representative
TREVOR TYSON
Phone:
(519) 673-3390
Office:
519-473-9992
Salesperson
KELLAN JAMES PANICCIA
Office:
519-473-9992
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