552 ADELAIDE STREET N
London East (East G), Ontario
MLS® X12890858
$639,000
- Status
- Active
- Property type
- Multi-family
- MLS® number
- X12890858
- Bedrooms
- 4
- Bathrooms
- 2
- Year built
- —
1 / 32Listing description
Great investment property close to downtown with short bus rides to both of Fanshawe College and Western University. Fully tenanted property with total rental income of $3600 per month (upper leased until Nov 2026 - $1450, and main is month to month - $2150) with tenants paying all utilities. Tenants are planning on staying.
Fully funded this property has a capitalization rate about 5. 5% meaning right from the start it is cash flow positive. Building was cleaned up and renovated in 2023 so very little can be expected in terms of maintenance fees for the next few years.
Rents are slightly below market value meaning this building will perform more strongly and be an even better addition to your portfolio as time progresses. This yellow brick home sits on the edge of Woodfield and Old East Village. The main floor has 2 large bedrooms plus a basement with additional room.
The upper has 1 bedroom plus den, both with in suite laundry. Property is being sold fully furnished excluding tenants belongings. Parking is at the rear of the building and access is off of Princess.
Property summary
- MLS® number
- X12890858
- Property type
- Multi-family
- Building type
- Duplex
- Land size
- 32 x 120 FT
- Annual property taxes
- $2,849.00
- Parking
- 4 spaces · No Garage
- Days on market
- 162 days
Features & details
- Heating
- Baseboard heaters, Forced air, Electric, Natural gas
- Cooling
- Central air conditioning, Window air conditioner
- Basement
- Partially finished, N/A
- Exterior features
- Brick
What would this home cost you?
Based on the $639,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of SUTTON GROUP - SELECT REALTY, LONDON.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.