Fantastic investment opportunity for a legal triplex on a huge lot right by Springbank Park, bus routes and 5 minutes from downtown. Main floor (2 bedroom unit) & back cottage(1 bed) will be vacant in November, perfect opportunity to set rent at current market value and/or remodel to your desire. Upper ( 1 bed unit) currently rented at 750/mo with amazing, reliable long term tenant. All 3 units include full kitchens, 4 pc bath & living rooms. Property also includes a single car garage(great for storage) and an oversized insulated double car garage / workshop with more income potential. With current average market rents at 1125/mth for a 1 bdrm & 1757 / mth for a 2 bdrm, net income potential for this property is estimated at over 38 K annually (not including the garage). This leaves you with an incredible 7.6% cap rate and potential for growth. Don't miss this opportunity to invest in your future in London's booming rental market.
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