12
See all 12 photos
$985,000
Est. payment /mo
3,000 SqFt
Active
246 Wharncliffe RD S London, ON N6J 2L4
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
02/12/2025 08:52 PM
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $328
Subdivision South F
MLS Listing ID X11970286
Annual Tax Amount $2,226
Tax Year 2024
Property Sub-Type Investment
Property Description
This 6-unit multifamily property, located near Downtown, Wortley Village, and a major bus route, offers an excellent investment opportunity with significant value-add potential. With 2 of the 6 units left vacant on purpose, the new owner can set new rents and maximize returns. The building includes a mix of unit types: 1-2 bedroom, 3-1 bedroom, and 2 bachelor units. Recent renovations include a stucco exterior (2021), roof with spray foam silicone system (2021), and full insulation of exterior walls and ceilings (2021). All windows and doors were replaced in 2021, reducing future maintenance costs. Most units have been updated with new bathrooms. The property features 2 upgraded 200-amp electrical panels, a high-efficiency forced air gas furnace, and low utility costs. A workshop/storage building at the rear provides additional income potential. Zoned AC2 (1), this property is well-positioned for future growth and rental demand. Projected cash flow of $75,600 per year, with the opportunity to increase returns by filling vacant units at market rates. A solid investment for those seeking to add a high-potential multifamily asset to their portfolio.
Location
State ON
County Middlesex
Community South F
Area Middlesex
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 25.5
Lot Depth 90.0
Listed by ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES