For Sale

149 Forest Hill Avenue, London ON For Sale - MLS ID 242044

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$499,900.00
Brokered by: STREETCITY REALTY INC.
MLS ID: 242044
  • Area N/A
  • Rooms 19
  • Bedrooms 5
  • Bathrooms 4.00

Description

FANTASTIC INVESTMENT OPPORTUNITY FOR A LEGAL TRIPLEX ON A HUGE LOT RIGHT BY SPRINGBANK PARK, BUS ROUTES & 5 MINUTES FROM DOWNTOWN. MAIN FLOOR (2 BDRM UNIT) AND BACK COTTAGE (1BDRM UNIT) ARE VACANT AND RENOVATED, PERFECT OPPORTUNITY TO SET RENT AT CURRENT MARKET VALUE. UPPER (1 BDRM UNIT) CURRENTLY RENTED AT $750/MTH WITH AMAZING, RELIABLE LONG TERM TENANT. ALL 3 UNITS INCLUDE FULL KITCHENS, 4 PC BATH AND 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 AND $1757/MTH FOR A 2 BDRM, NET INCOME POTENTIAL FOR THIS PROPERTY IS ESTIMATED AT OVER 38K 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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Details

  • Type: Freehold Detached
  • Style: 1.5 Storey
  • Year Built: 1950
  • Fronting On: West
  • Community:
  • Pool: None
  • Bedrooms: 5
  • Bedrooms Above: 4
  • Bedrooms Below: 1
  • Water Front: No
  • Water: Municipal
  • Heating: Forced Air-Gas Energy Efficient
  • Fireplaces:
  • Foundation: Poured Concrete
  • Exterior: Aluminum Siding
  • Basement: Development Potential Partially Finished Partial Basement
  • Garage: 2.00 Detached
  • Sewer: Municipal Sewers

Services

  • At Lot Line-Gas
  • At Lot Line-Hydro
  • At Lot Line-Municipal Sewer
  • At Lot Line-Municipal Water
  • Cable
  • Cell Service
  • Electricity
  • Garbage/Sanitary Collection
  • Internet High-Speed
  • Public Transit
  • Recycling Pickup
  • School Bus Route
  • Street Lights

Property Features

  • Appliances Negotiable
  • Carbon Monoxide Detector
  • In-law Capability
  • Multiple Kitchens
  • Smoke Detector
  • Washer/Dryer Hookup
  • Fenced Full
  • Privacy

Area Features

  • Backs onto Greenspace
  • Dog Park
  • Downtown
  • Library
  • Park
  • Place of Worship
  • Playground Nearby
  • Pond
  • Public Transit
  • River/Stream
  • Schools
  • Shopping Nearby
  • Trails

Floorplans

Location