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49 Paddington Avenue London, Ontario N6J 2S5

6 Bedroom 3 Bathroom 1441 sqft
Baseboard Heaters

$747,000

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 X8283366
Property Type Business
Community Name South E
AmenitiesNearBy Recreation, Public Transit, Hospital
EquipmentType Water Heater
Features Lighting
ParkingSpaceTotal 6
RentalEquipmentType Water Heater
Structure Deck, Porch

Building

BathroomTotal 3
BedroomsTotal 6
Appliances Dishwasher, Dryer, Microwave, Refrigerator, Stove, Two Washers, Two Stoves, Washer, Window Coverings
BasementDevelopment Unfinished
BasementType N/a (unfinished)
ExteriorFinish Concrete, Shingles
FireProtection Controlled Entry
FoundationType Block
HeatingFuel Electric
HeatingType Baseboard Heaters
SizeInterior 1441 Sqft
UtilityWater Municipal Water

Land

AccessType Year-round Access
Acreage No
FenceType Fenced Yard
LandAmenities Recreation, Public Transit, Hospital
Sewer Sanitary Sewer
SizeDepth 98 Ft
SizeFrontage 35 Ft
SizeIrregular Unit=35 X 98 Ft
SizeTotalText Unit=35 X 98 Ft|under 1/2 Acre
ZoningDescription R1-4

https://www.realtor.ca/real-estate/26829992/49-paddington-avenue-london-south-e

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