$ 725,000
1467 MCLARENWOOD TERRACE London, ON N5W1X8
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$ 725,000
Est. payment | /mo
6 Beds
3 Baths
$ 725,000
Est. payment | /mo
6 Beds
3 Baths
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision East O
MLS® Listing ID X10433561
Bedrooms 6
Originating Board London and St. Thomas Association of REALTORS®
Property Description
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. (id:24570)
Location
Province ON
Rooms
Extra Room 1 Second level 3.357 m X 4.892 m Kitchen
Extra Room 2 Second level 6.772 m X 3.297 m Living room
Extra Room 3 Second level 3.355 m X 3.818 m Bedroom
Extra Room 4 Second level 2.734 m X 3.377 m Bedroom 2
Extra Room 5 Second level 6.71 m X 3.289 m Living room
Extra Room 6 Second level 3.351 m X 3.84 m Bedroom
Interior
Heating Other
Exterior
Garage No
View Y/N No
Total Parking Spaces 6
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Listed by EXP REALTY