894 ADELAIDE
East C | London
$2,475,000.00
Listed 3 months ago
- 11 bed
- 6 bath
- - sqft
- 8 parking
- Multi-family
Property history
- Now
- Listed on Jul 16, 2024
Listed for $2,475,000.00
92 days on market
Location & area
Schools nearby
Home Details
- Description
- WITH $750,000 DOWN THE SELLER WILL HOLD A FIRST MORTGAGE FOR THE BALANCE OF THE PURCHASE PRICE AT 3.9% INTEREST ONLY. Excellent apartment building on the edge of old north. 6-unit building consisting of 5-2-bedroom apartments and a one bedroom. Completley renovated to drywall, floor, and ceiling. Luxury contemporary kitchens with quartz countertops, and 3 stainless steel appliances. Luxury baths with full tubs and vanities with quartz countertops. High end light fixtures, tile and flooring throughout suites and common areas. Electric fireplaces in all units. Controlled entry with video doorbells. New electrical, plumbing, and high efficiency boiler system. New high Efficiency windows throughout. New sidewalks and asphalt parking lot and driveway. Annual income of approx. $130,160. ATTENTION BUILDERS. site plan and building permit approved for a new adjacent apartment building that you can build consisting of 9 two-bedroom units with in suite laundry and Juliet balconies. The building will be 3 floors, with 3 units per floor, raised 2 storey building with total sq. Ft of approx. 6000. Build the building and have approx. $11,000 in income coming in each month while you build it. RENTS ARE ALL PLUS HYDRO ON EXISTING BUILDING. FINAL PROJECTED COMPLETION VALUE OF $5,502,560. Acquisition cost ($2,475,000). Plus, construction cost ($1,500,000) $3,975,000 NET PROFIT ($1,527,560.) **** EXTRAS **** Income and expenses information available in documents tab (id:39198)
- Additional media
- -
- Property taxes
- $6,458.35 per year / $538.20 per month
- Basement
- Finished, Full
- Year build
- -
- Type
- Multi-family
- Bedrooms
- 11
- Bathrooms
- 6
- Parking spots
- 8 Total
- Floor
- -
- Balcony
- -
- Pool
- -
- External material
- Concrete | Brick
- Roof type
- -
- Lot frontage
- -
- Lot depth
- -
- Heating
- Baseboard heaters, Natural gas
- Fire place(s)
- -
Listing Brokerage
- MLS® Listing
- X9041490
- Brokerage
- SUTTON GROUP - SELECT REALTY
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