77/79 Cartwright St
London, N6B 2W6
FOR SALE
$875,000
Sold
$875,000

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8
BEDROOMS5
BATHROOMS5
KITCHENS18
ROOMSX5679121
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2022-06-29 | 2022-08-02 | 34 | $875,000 | $875,000 | Sold |
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Property Description
Prime Investment Opportunity In Woodfield Heritage District. 77-79 Cartwright Is A Large All Brick, 2.5 Story Fiveplex With A Detached Two Car Garage, Sitting On A 63.5 X 148 Ft Lot. This Fiveplex Offers Three - 1 Bedroom Units, One - 2 Bedroom Unit And One - 3 Bedroom Unit. A Total Net Income Of $45,408. Walking Distance To Downtown, Parks, Schools, Public Transit, And Major Amenities. Both The Units At 79 Cartwright Are Currently Vacant. 77-1 And 77-3 Will Be Vacant At The End Of August.
Extras
Fridge, Stove, Washer & Dryer. Excluding: Tenants Belongings
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Similar Listings
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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