$2,475,000
894 ADELAIDE STREET N London, ON N5Y2M5
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$2,475,000
Est. payment /mo
11 Beds
6 Baths
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision East C
MLS® Listing ID X9041490
Bedrooms 11
Originating Board London and St. Thomas Association of REALTORS®
Property Description
WITH $750,000 DOWN THE SELLER WILL HOLD A FIRST MORTGAGE FOR THE BALANCE OF THE PURCHASE PRICE AT 3.9% INTEREST ONLY. Excellent apartment building on the edge of old north. 6-unit building consisting of 5-2-bedroom apartments and a one bedroom. Completley renovated to drywall, floor, and ceiling. Luxury contemporary kitchens with quartz countertops, and 3 stainless steel appliances. Luxury baths with full tubs and vanities with quartz countertops. High end light fixtures, tile and flooring throughout suites and common areas. Electric fireplaces in all units. Controlled entry with video doorbells. New electrical, plumbing, and high efficiency boiler system. New high Efficiency windows throughout. New sidewalks and asphalt parking lot and driveway. Annual income of approx. $130,160. ATTENTION BUILDERS. site plan and building permit approved for a new adjacent apartment building that you can build consisting of 9 two-bedroom units with in suite laundry and Juliet balconies. The building will be 3 floors, with 3 units per floor, raised 2 storey building with total sq. Ft of approx. 6000. Build the building and have approx. $11,000 in income coming in each month while you build it. RENTS ARE ALL PLUS HYDRO ON EXISTING BUILDING. FINAL PROJECTED COMPLETION VALUE OF $5,502,560. Acquisition cost ($2,475,000). Plus, construction cost ($1,500,000) $3,975,000 NET PROFIT ($1,527,560.) **** EXTRAS **** Income and expenses information available in documents tab (id:24570)
Location
Province ON
Interior
Heating Baseboard heaters
Exterior
Garage No
Waterfront No
View Y/N No
Total Parking Spaces 8
Private Pool No
Building
Story 3
Sewer Sanitary sewer
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Listed by SUTTON GROUP - SELECT REALTY
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