246 Wharncliffe Rd S

South F, London, N6J 2L4
FOR SALE
$985,000
246 Wharncliffe Rd S, London
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
246 Wharncliffe Rd S
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7
BEDROOMS
6
BATHROOMS
6
KITCHENS
6
ROOMS
X11970467
MLSID
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Property Description
This 6-unit multifamily property, located near Downtown, Wortley Village, and a major bus route, offers an excellent investment opportunity with significant value-add potential. With 2 of the 6 units left vacant on purpose, the new owner can set new rents and maximize returns. The building includes a mix of unit types: 1-2 bedroom, 3-1 bedroom, and 2 bachelor units. Recent renovations include a stucco exterior (2021), roof with spray foam silicone system (2021), and full insulation of exterior walls and ceilings (2021). All windows and doors were replaced in 2021, reducing future maintenance costs. Most units have been updated with new bathrooms. The property features 2 upgraded 200-amp electrical panels, a high-efficiency forced air gas furnace, and low utility costs. A workshop/storage building at the rear provides additional income potential. Zoned AC2 (1), this property is well-positioned for future growth and rental demand. Projected cash flow of $75,600 per year, with the opportunity to increase returns by filling vacant units at market rates. A solid investment for those seeking to add a high-potential multifamily asset to their portfolio. (39879369)
Property Details
Community
City
Property Type
Multiplex, 2-Storey
Lot Size
26' x 90'
Fronting
East
Taxes
$2,226 (2024)
Basement
Apartment
Exterior
Stucco/Plaster
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Other
Water
Municipal
Garage Type
None
Listing contracted with Royal Lepage Burloak Real Estate Services
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