235 Hamilton Rd

East L, London, N5Z 1P9
FOR SALE
$999,800
Terminated
$0
235 Hamilton Rd, London
235 Hamilton Rd
235 Hamilton Rd
235 Hamilton Rd
235 Hamilton Rd
235 Hamilton Rd
235 Hamilton Rd
235 Hamilton Rd
235 Hamilton Rd
235 Hamilton Rd
8 + 3
BEDROOMS
6
BATHROOMS
5
KITCHENS
21
ROOMS
X9240694
MLSID
Contact Us
Listing History
List Date End Date Days Listed List Price Sold Price Status
2024-08-06 2024-12-03 119 $999,800 - Terminated
2024-06-07 2024-08-06 60 $999,800 - Terminated
2017-05-18 2017-06-08 24 $449,000 $438,000 Sold
Property Description
Money Maker! Legal Five-Unit Property Fully Leased! Consisting Of Four Two-Bedroom Units And One Large Three-Bedroom Unit. Each Unit Has One Bath, Kitchen, And Its Own Private Laundry. Meticulously Updated. All Units Are Large In Size And Each Has Its Own Hydro Meter And Separate Entrance. Located In An Excellent Rental Area. Annual Income Projected At $95,340 Per Year. Unit #1 Rented At $1,550 + Hydro, Unit #2 Rented At $1,500 + Hydro, Unit #3 Rented At $1,300 + Hydro, Unit #4 Rented At $1,600 + Hydro, Unit #5 Rented At $1,900 + Hydro. Cap Rate Of 6.9%. An Amazing Investment Opportunity With All Units Currently Tenanted At Market Rents. Annual Income $94,200. The Buyer And The Buyer's Agent Are Responsible For Verifying All Income And Expenses.
Property Details
Community
City
Property Type
Multiplex, 2-Storey
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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)
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