Property Information:

Calling all investors and contractors! This is your chance to acquire a value-add handyman special with incredible upside potential just 1.2 kilometers from Fanshawe College campus. This 3+2 bedroom bungalow presents a rare opportunity to force equity through strategic improvements while generating immediate cash flow from existing tenants. The property is currently 80% rented and is priced for your sweat equity - expect to invest in upgrades throughout to unlock its full potential. The lower unit features a kitchen with separate entrance and shared laundry configuration, providing immediate rental income while you execute your value-add strategy. What makes this property particularly exciting is the potential to build a detached Additional Dwelling Unit (ADU) in the rear yard under London's new zoning policies. With proper lot dimensions and coverage calculations, you could potentially add a brand-new 600-800 sq ft standalone dwelling unit behind the existing house, dramatically increasing the property's income potential and overall value. This strategy allows you to maximize your investment by creating a modern, secondary dwelling that commands premium rents while maintaining the existing house. Imagine the possibilities: renovate the main house, optimize the current suite configuration, and add a brand-new detached ADU - creating a true income-generating powerhouse. Being within walking/biking distance to Fanshawe College ensures consistent rental demand year after year, making this an ideal hold-and-build investment. This is a build-your-wealth opportunity for hands-on investors who understand the value of forced appreciation and aren't afraid to roll up their sleeves. Perfect for contractors looking to leverage their skills or savvy investors with renovation connections ready to unlock this property's full potential. (id:27)

Building Features:

Style: Detached
Building Type: House
Architectural Style: Bungalow
Basement Development: Finished
Basement Type: N/A, N/A
Construction Style - Attachment: Detached
Exterior Finish:
Floor Space: 700 - 1100 sqft
Foundation Type: Poured Concrete
Heating Type: Forced air
Heating Fuel: Natural gas
Cooling Type: Central air conditioning
Appliances: All

Property Features:

OwnershipType: Freehold
Property Type: Single Family
Bedrooms: 3+2
Bathrooms: 2
Features:
Floor Space (approx): 700 - 1100 Square Feet
Irregular: Yes
Lot Depth: 135 Feet
Lot Frontage: 53 Feet
Lot Size: 53 x 135 FT
Zoning: R1-6
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 6

Rooms:

Kitchen Lower Level 3.65 m x 3.04 m
Living Main Level 4.97 m x 3.50 m
Kitchen Main Level 4.06 m x 2.94 m
Primary Bedroom Main Level 3.42 m x 2.92 m
Bedroom Main Level 3.04 m x 3.04 m
Bedroom Main Level 3.04 m x 2.74 m

Convert Measurement to:

Courtesy of: TEAM GLASSER REAL ESTATE BROKERAGE INC.

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Demographic Information of 1563 DALE STREET, London East (East H), Ontario, N5V 1Y1

Life Stage

Midlife Families

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$84,013.62

Average Number of Children

1.72

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

12.06 %

High school certificate or equivalent

36.92 %

Apprenticeship trade certificate/diploma

5.12 %

College/non-university certificate

27.51 %

University certificate (below bachelor)

1.97 %

University Degree

16.43 %

Commuter

Travel To Work

By Car

66.14 %

By Public Transit

18.57 %

By Walking

9.29 %

By Bicycle

0.97 %

By Other Methods

5.03 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

47.98 %

Houses

52.02 %

1563 DALE STREET, London East (East H), Ontario, N5V 1Y1