$680,000
FOR SALE

Triplex 2-Storey

Bedrooms: 6Bathrooms: 3Lot: 35 x 95 ft
2023 Taxes: $2,893.11

49 Paddington Ave
London, ON N6J 2S5 | South E | Middlesex

This fully renovated seperately metered Three Unit Income Property in Manor Park works as an ideal seemless compliment to exisiting porfolios, as a solid first aquisition in the real estate investing world, and/or as a great oppurtunity to occupy one unit and generate income on the other units. The property just completed and passed fire and electrical safety inspections in July of 2024 helping reinforce this as a safe investment and/or new location to call home. As of December 1st the split level three bedroom and upper one bedroom unit will be vacant with sale (unless requested to be leased by buyer; negotiable to be vacant sooner). This property has been creatively designed to keep all the living space above grade; with all units having been recently renovated and all major elements being replaced or upgraded; with bonus storage units created and rented below grade providing an additional income stream. This property provides very close access to the high energy major transportaion routes for public transit and is situated near to shopping centres. The area also offers great naturscapes to explore including Eustace Park and The Coves protected area. This fully tenanted property offers an annual income of at over $50,000 after expenses this property is a prime candidate for a cash flowing asset projected at a 7%+ Cap Rate at asking. As noted the newly renovated basement space allows for additional income with storage units with the space freshly painted, spray foamed and the cielings drywalled. The shared basement space also features a laundry room with two washers and two dryers for usage between the tenants. Basement additionally waterproofed, insulated and ceiling / walls newly drywalled. Between the previous professional home inspection, the electrical safety authority inspection, and the fire inspection; it is of upmost importance to the current owner than the new buyer inherites a safe property. Detailed financials are also available and can be provided.
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Listed By EXP REALTY
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X9356894
Last Updated Oct 09, 2024
Property Summary
Property Type Triplex

More like this:
PIN 083980342
Legal Description LT 178, PL 488 ; LONDON/WESTMINSTER
Possession Date Flexible
Taxes (2023) $2,893.11
Assessment (2023) $336,000
Directions/Cross Streets Paddington & Emery
Neighbourhood South E
Area Middlesex
Price History

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Detailed Information
Fronting On W
Special Designations Unknown
Bedrooms 6
Bathrooms 3
Rooms 10+3
Kitchens 3
Lot 35 x 95 ft
Acreage <.50
Approximate Square Footage 1100-1500
Approximate Age 51-99
Exterior Concrete, Vinyl Siding
Elevator N
Air Conditioning Other
Family Room Y
Fireplace/Stove N
Pool None
Laundry Level Lower
Basement Part Bsmt, Sep Entrance
Drive Front Yard
Garage Spaces 0.0
Garage Type None
Parking Spaces 4
Total Parking Spaces 4.0
Retirement N
Heat Source Electric
Heat Type Baseboard
Other Structures Garden Shed
Sewers Sewers
Utilities-Hydro Y
Utilities-Gas A
Utilities-Cable A
Utilities-Telephone A
Water Municipal
Seller Property Info Statement N
Rooms
Room Level Dimensions Notes
BathroomMain1.6 m x 2.4 m (5.25 ft x 7.87 ft)3 Pc Bath
Bathroom2nd1.21 m x 2.16 m (3.97 ft x 7.09 ft)3 Pc Bath
Bathroom2nd1.6 m x 2.31 m (5.25 ft x 7.58 ft)3 Pc Bath
Bathrooms
Pieces Level
3Ground
32nd

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The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.

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