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49 Paddington Avenue London, Ontario N6J 2S5

6 Bedroom 3 Bathroom 1441
Baseboard Heaters

$749,000

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:46638)

Property Details

MLS® Number 40578169
Property Type Multi-family
Amenities Near By Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping
Community Features Community Centre, School Bus
Equipment Type Water Heater
Features Shared Driveway
Parking Space Total 6
Rental Equipment Type Water Heater
Structure Shed, Porch

Building

Bathroom Total 3
Bedrooms Total 6
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
Size Interior 1441
Type Triplex
Utility Water Municipal Water

Land

Access Type Road Access
Acreage No
Fence Type Fence
Land Amenities Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping
Sewer Municipal Sewage System
Size Depth 98 Ft
Size Frontage 35 Ft
Size Total Text Under 1/2 Acre
Zoning Description R1-4

https://www.realtor.ca/real-estate/26803350/49-paddington-avenue-london

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Exp Realty, Brokerage
380 Wellington Street, Tower B 6th Floor
London, Ontario N6A 5B5

(866) 530-7737
(647) 849-3180
www.exprealty.ca/