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4 + 2
BEDROOMS3
BATHROOMS2 + 1
KITCHENS8 + 4
ROOMSX10433561
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Property Description
Investors, take note! This turnkey triplex is a rare opportunity to own or live in one of the units while enjoying a well-maintained income property in a desirable family-friendly neighbourhood. Fully licensed and fire inspected. Offering three spacious two-bedroom units, the property has been updated with modern kitchens, bathrooms and flooring, as well as updated heating, plumbing, and electrical systems. Roofing was updated in 2019. Projected to generate $40,630 in gross rental income for 2024, with operating expenses estimated at $11,826, the property is set to achieve a net income of approximately $28,804. With its fair market rental potential of $64,200 annually, this property offers both immediate returns and exciting long-term growth potential. Current rents for the middle and lower units are $1,225 per month, including utilities, with reliable, long-term tenants who wish to stay. The recently vacated upper unit provides an excellent option for owner-occupancy or securing a new tenant at market rent of $1,750 or more. On-site coin laundry is available. Additional highlights include ample parking and a private rear yard, all within close proximity to parks, schools, and public transit. Whether youre a seasoned investor or just starting your portfolio, this low-maintenance, high-performing property is an exceptional opportunity.
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Property Details
Street
Community
City
Property Type
Triplex, 2-Storey
Lot Size
45' x 107'
Acreage
< .50
Lot Irregularities
107.12 ft x 45.13ftx111.00ft x 45.16ft
Fronting
West
Taxes
$4,405 (2024)
Basement
Apartment, Fin W/O
Exterior
Brick
Heat Type
Other
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
6
Driveway
Private
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Kitchen | 2nd | 16.04' x 11.02' | |
| Living | 2nd | 10.83' x 22.21' | |
| Br | 2nd | 12.53' x 11.02' | |
| 2nd Br | 2nd | 11.09' x 8.96' | |
| Kitchen | Main | 11.02' x 16.01' | |
| Living | 2nd | 10.79' x 22.01' | |
| Br | 2nd | 12.60' x 10.99' | |
| 2nd Br | 2nd | 10.89' x 9.06' | |
| Kitchen | Lower | 10.40' x 15.68' | |
| Living | Lower | 10.53' x 15.03' | |
| Br | Lower | 10.37' x 10.56' | |
| 2nd Br | Lower | 9.32' x 10.50' |
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London Market Statistics
London Price Trend
1467 Mclarenwood Terr is a 4-bedroom 3-bathroom home listed for sale at $725,000, which is $159,160 (18.0%) lower than the average sold price of $884,160 in the last 30 days (October 24 - November 22). During the last 30 days the average sold price for a 4 bedroom home in London increased by $6,902 (0.8%) compared to the previous 30 day period (September 24 - October 23) and down $87,040 (9.0%) from the same time one year ago.Inventory Change
There were 133 4-bedroom homes listed in London over the last 30 days (October 24 - November 22), which is down 14.7% compared with the previous 30 day period (September 24 - October 23) and up 638.9% compared with the same period last year.Sold Price Above/Below Asking ($)
4-bedroom homes in London typically sold ($24,809) (2.8%) below asking price over the last 30 days (October 24 - November 22), which represents a $4,703 decrease compared to the previous 30 day period (September 24 - October 23) and ($30,560) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 4-bedroom homes in London over the last 30 days (October 24 - November 22) stood at 63.9%, up from 41.7% over the previous 30 days (September 24 - October 23) and up from 27.8% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 4-bedroom 3-bathroom home in London stood at 34 days when successfully sold over the last 30 days (October 24 - November 22), compared to 71 days before being removed from the market upon being suspended or terminated.Listing contracted with Exp Realty
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