547 WILLIAM STREET Active Save Request In-Person Tour Request Virtual Tour
London East (east F),ON N6B3E8
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,500 sqft
Price per Sqft $413
Subdivision East F
MLS Listing ID X12342400
Bedrooms 2
Property Description
Fantastic investment opportunity on this solid duplex in the heart of OLD NORTH-WOODFIELD VILLAGE with excellent opportunity to ADD SECONDARY DWELLING UNIT(S) ON THIS 150 FOOT LOT! Main floor is 2 bedrooms but could be 2 bedrooms plus den, upper level is large one bedroom with oversized kitchen and newer walk out deck overlooking beautiful mature yard. Tenants pay all utilities. LANDLORD ONLY PAYS WATER. Cap rate of 5.4 % but based on PRIOR rents which were under market value. Large front porch which is great outdoor space for main floor tenant. Parking for 2 cars. Fantastic opportunity for young buyers to get into the market and have one unit significantly support their mortgage payments. Prior rents on main were $1856 plus hydro and gas heating costs, upper unit $1600 plus hydro and heat (heated by hydro). Both water heaters are owned. Each unit has its own laundry. Updates include new steel roof and eavestroughs in 2025, newer rear decking off upper unit, furnace approx. 10 years old. 11 appliances included plus upper unit window air conditioner. Income: $41,472 (based on prior rents) Expenses: $8,049. Net: $33,423. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Wall unit
Exterior
Parking Features No
View Y/N No
Building
Story 2
Sewer Sanitary sewer