149 Forest Hill Av, LONDON

$499,900

5 Beds
4 Baths
0 Sqft
0 Acres
2 Garages

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.

Essential Information
MLS® #228272
Price$499,900
Bedrooms5
Bathrooms4.00
Full Baths4
Acres0.00
TypeMulti Family
Sub-TypeResidential
Style1.5 Storey
StatusActive
Community Information
Address149 Forest Hill Av
AreaS
CityLONDON
CountyLondon
ProvinceON
Postal CodeN6J 2Z3
Amenities
Parking Spaces10
# of Garages2
GaragesDetached
PoolNone
Features

Carbon Monoxide Detector, In-law Capability, Smoke Detector, Appliances Negotiable, Multiple Kitchens, Washer/Dryer Hookup

Interior
HeatingForced Air-Gas
# of Stories2
Basement

Partially Finished, Development Potential

Exterior
ExteriorAluminum Siding
Exterior FeaturesFenced Full, Privacy
Lot DescriptionUnder .5 Acre
RoofShingles
FoundationPoured Concrete
Schools

KENSAL PARK, WOODLAND HEIGHTS, VICTORIA PS, FRERE ANDRE, SOUTH, BEAL, CCH, WESTMINSTER, ST. MARTIN

Listing Details
OfficeSTREETCITY REALTY INC.
LISTING MAP

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