Jag Patel
Broker
$6,250,000
Available - For Sale
Listing ID: X13534198
320-324 Thompson Road , London South, N5Z 2Z2, Middlesex
| Fantastic investment opportunity in London ON! This site contains 3 purpose built 12 plex's, each with 10 two bedroom units and two one bedroom units (one building has had two of the 2 bedroom units converted into one large unit by the former owner, would be easy to convert back into two units). It sits on over two acres, and that includes a vacant lot that is zoned R8-2 and is just over 0.6 acres (66 feet by 420 feet) that would be perfect to add some additional units to the property. Current rent roll is over $500,000 a year with loads of upside potential to increase to current market rent, currently 13 of the two bedroom units are under market rent. Each unit is separately metered for hydro, each building has its own laundry room, and many updates have been done over the years including new boilers (2023), many new windows (as needed), and most of the units have also been updated (as they become vacant they are renovated). This is a tremendous addition to any investor's portfolio so act today! |
| Price | $6,250,000 |
| Taxes: | $75495.17 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 320-324 Thompson Road , London South, N5Z 2Z2, Middlesex |
| Postal Code: | N5Z 2Z2 |
| Province/State: | Middlesex |
| Legal Description: | LT 2 PLAN 812 & PT LTS 21 & 22 BF CON B, |
| Directions/Cross Streets: | Adelaide Street South |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Use: | Apts - Over 20 Units |
| Building Percentage: | T |
| Total Area: | 10140.00 |
| Total Area Code: | Square Feet |
| Area Influences: | Public Transit |
| Financial Statement: | F |
| Chattels: | T |
| Franchise: | F |
| Management Expense: | 15242 |
| Expenses Actual/Estimated: | $Act |
| Washrooms: | 0 |
| Rail: | N |
| Heat Type: | Gas Hot Water |
| Central Air Conditioning: | No |
| Sewers: | Sanitary |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| ROYAL LEPAGE TRILAND REALTY |
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Jag Patel
Broker
Dir:
416-671-5246
Bus:
416-289-3000
Fax:
416-289-3008
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Middlesex |
| Municipality: | London South |
| Neighbourhood: | South I |
| Tax: | $75,495.17 |
| Fireplace: | N |
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