$749,000
FOR SALE

Triplex

Bedrooms: 6Bathrooms: 3Lot: 35 x 98 ft

49 Paddington Avenue
London, ON N6J 2S5

Look no further than this fully renovated seperately metered Three Unit income property in Manor Park. This hidden gem works as an ideal seemless compliment to exisiting porfolios or as a fresh and friendly advent into the real estate investing world. This property has been creatively designed to keep all the living space of its units above grade; with all units being renovated and all major elements being replaced or upgraded recently; with bonus storage rented units below grade as an additional income stream. Located just West of Wortley Village and surounded by lovely nature spaces including Euston Park and The Coves; which offers an unexpected and welcome disconnect from the intense urban elements. This is perfectly complemented as it offers very close access to the major transportation routes for public transit and is situated near to shopping centres. This property now offers the option to have the upper one bed and one bath unit vacant at possession or the option to have the property come fully tenanted with a projected annual income of $55,000 makiing this property a prime candidate for a cash flowing asset; with over a 6% Cap Rate at asking. The newly renovated basement space allows for additional income with storage units and features new appliances including two washers and two dryers for usage between the tenants; a reflection almost all the properties applinces being recetly upgraded. (id:47421)
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Listed By EXP REALTY, Brokerage
Data Provided By London and St. Thomas Association of REALTORS®
MLS® Listing Number 40578169
Last Updated May 16, 2024
Property Summary
Property Type Triplex

More like this:
Subdivision South E
Price History

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Detailed Information
Bedrooms 6
Bathrooms 3
Lot 35 x 98 ft
Amenities Nearby Hospital, Park, Place of Worship, Playground, Public Transit, Schools, Shopping
Community Features Community Centre, School Bus
Equipment Water Heater
Features Shared Driveway
Listing Contract Date 2024-04-22
Location Description Take Wharncliffe Road South to Emery Street West; Take Emery Street West to Paddington Avenue; Take Paddington Avenue going South (on West Side of Paddington Avenue)
Ownership Type Freehold
# of Parking Spaces 6
Property Type Multi-family
Rental Equipment Water Heater
Structures Shed, Porch
Transaction Type For sale
Zoning Description R1-4
Building
Appliances Microwave, Window Coverings, Hot Tub
Basement Development Unfinished
Basement Type Partial (Unfinished)
Exterior Finish Concrete, Vinyl siding, Shingles
Foundation Type Block
Heating Fuel Electric
Heating Type Baseboard heaters
Stories Total 2
Type Triplex
Utility Water Municipal water
Land
Total Size under 1/2 acre
Access Type Road access
Amenities Hospital, Park, Place of Worship, Playground, Public Transit, Schools, Shopping
Fence Type Fence
Sewer Municipal sewage system
External Links

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