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504 English Street London, Ontario N5W 3T8

9 Bedroom 6 Bathroom
Central Air Conditioning Forced Air

$1,500,000

Situated east of the downtown core in the vibrant ""Old East"" neighborhood, this 4-plex presents an exceptional opportunity to expand your investment portfolio. Built in 2021, this newer construction property offers modern amenities and attractive features designed to appeal to both tenants and investors. No expense was spared in this development, entire building is spray foam insulated for optimal energy efficiency. Concreate driveway for long term durability, heritage wood windows in front and initial side, & fiberglass for remainder. High-pitched roof not only enhances the building's architectural appeal but also offers practical benefits in terms of interior space (9 ft ceilings) and weather resistance. The main floor consists of two 2-bedroom, 2-bathroom units, while upstairs has two 3-bedroom, 1-bathroom units. Each unit is tastefully finished with vinyl plank flooring and quartz countertops, energy-efficient appliances and its their own washer and dryer, ensuring convenience for all tenants. Ample parking for up to 5 vehicles at the rear of the property provides convenient off-street parking for tenants as well. Ideally located within walking distance to amenities, including a park across the street. This property is a prime addition to any investment portfolio, offering attractive rental returns with all units currently occupied by A++ tenants. Newer building constructed after 2019, which means no rental cap restrictions and potential for excellent rental income. A true 5.85% cap rate for a new construction built to the nine's. Get ahead of the interest rate cycle before the cap rates go back down to 4-4.5%! (id:56191)

Property Details

MLS® Number X9012717
Property Type Multi-family
Community Name EastG
Features Flat Site
Parking Space Total 5

Building

Bathroom Total 6
Bedrooms Above Ground 9
Bedrooms Total 9
Appliances Dishwasher, Dryer, Refrigerator, Stove, Washer
Basement Type None
Cooling Type Central Air Conditioning
Exterior Finish Brick
Fire Protection Controlled Entry, Smoke Detectors
Foundation Type Poured Concrete
Half Bath Total 1
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 2
Type Other
Utility Water Municipal Water

Land

Acreage No
Sewer Sanitary Sewer
Size Depth 158 Ft
Size Frontage 55 Ft
Size Irregular 55.24 X 158.7 Ft
Size Total Text 55.24 X 158.7 Ft|under 1/2 Acre
Zoning Description R2-3

Rooms

Level Type Dimensions
Main Level Living Room Measurements not available
Main Level Dining Room Measurements not available
Main Level Kitchen Measurements not available
Main Level Bedroom Measurements not available
Main Level Bedroom Measurements not available
Main Level Bathroom Measurements not available
Main Level Bathroom Measurements not available

https://www.realtor.ca/real-estate/27128994/504-english-street-london-eastg

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