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London, ON N6B3J5 552 ADELAIDE STREET N

$645,000

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Presented By: INITIA REAL ESTATE (ONTARIO) LTD
  • MLS# X11932633
  • 01/20/2025
  • Request Tour
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  • Beds • 5
  • Baths • 2

Home Details

Great investment property close to downtown with short bus rides to both of Fanshawe College and Western University. Fully tenanted property with total rental income of $3800 per month (upper leased until Aug 2025 - $1650, and main is March 2025 - $2150) with tenants paying all utilities. Tenants are planning on staying. Fully funded this property has a capitalization rate between 5.5% and 6% meaning right from the start it is cash flow positive. Building was cleaned up and renovated in 2023 so very little can be expected in terms of maintenance fees for the next few years. Rents are slightly below market value meaning this building will perform more strongly and be an even better addition to your portfolio as time progresses. This yellow brick home sits on the edge of Woodfield and Old East Village. The main floor has 2 large bedrooms plus a basement with additional room. The upper has 1 bedroom plus den, both with in suite laundry. Property is being sold fully furnished excluding tenants belongings. Parking is at the rear of the building and access is off of Princess. (id:7434)
Presented By: INITIA REAL ESTATE (ONTARIO) LTD

Interior Features for 552 ADELAIDE STREET N

Other Interior Features

Basement DevelopmentPartially finished
Basement TypeN/A (Partially finished)
Building Fireplace PresentTrue
Building Fireplace Total1
Building Fireplace TypeInsert
Building Heating FuelNatural gas
Building Heating TypeForced air

General for 552 ADELAIDE STREET N

Building AppliancesWater Heater, Furniture
Building TypeDuplex
Building.StoriesTotal2
CommunityNameEast G
Foundation TypeStone
Location DescriptionNorth of Princess St.
Parking Space Total4
Property TypeMulti-family
Zoning DescriptionAC4

Exterior for 552 ADELAIDE STREET N

Exterior FinishBrick
SewerSanitary sewer

Additional Details

Zayd Hamamiyah

Realtor ®, BBA Hon.
Price $645,000
MLS#X11932633
List Date 01/20/2025
Property Type Multi-Family
Phone 289.816.2923
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