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Royal LePage
Royal LePage
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$712,900

London East (East K) ON, N6B 1H9

MLS® # X12469490

Property Information:

Turnkey fourplex generating approximately $5,500 in gross monthly income, or about $66,000 annually. After mortgage, insurance, and utilities, the property maintains a net positive cash flow, offering an estimated return of over 9%. The building includes four fully renovated units, each with its own kitchen and bath. Unit #1 rents for $1,750/month and features 2 bedrooms, a living room, kitchen, and bath. Unit #2 rents for $1,050/month, Unit #3 for $1,332.50/month, and Unit #4 for $1,230/month - each with 1 bedroom, kitchen, and bath. Coin laundry adds an additional $150/month. This solid brick building sits on a deep lot with over 5 parking spaces and zoning potential for rear parking. It includes 5 total bedrooms, 4 full bathrooms, and 4 kitchens, with 4 separate hydro meters. Additional features include baseboard electric heating in all units, a coin-operated washer and dryer, and a dedicated storage and utility room. The property is fully tenanted and ready for immediate cash flow. (id:27)

Building Features:

  • Style: Multiplex
  • Building Type: Fourplex
  • Basement Development: Finished
  • Basement Type: N/A
  • Exterior Finish: Brick
  • Floor Space: 2000 - 2500 sqft
  • Foundation Type: Concrete
  • Heating Type: Baseboard heaters
  • Heating Fuel: Electric
  • Appliances: Dryer, Stove, Washer, Refrigerator

Property Features:

  • Property Type: Multi-family
  • Bedrooms: 5+1
  • Bathrooms: 4
  • Features: Carpet Free
  • Floor Space (approx): 2000 - 2500 Square Feet
  • Irregular: Yes
  • Lot Depth: 197.7 Feet
  • Lot Frontage: 38.6 Feet
  • Lot Size: 38.6 x 197.7 FT
  • Sewer: Sanitary sewer
  • Parking Type: No Garage
  • No. of Parking Spaces: 5

Courtesy of: COMFREE

REALTOR.ca  

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⚠ Potential Investment Performance

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Location of 184 SIMCOE STREET, London East (East K), Ontario, N6B 1H9

Demographic Information of 184 SIMCOE STREET, London East (East K), Ontario, N6B 1H9

Life Stage

Young Singles

Employment Type

Service Sector/White Collar

Average Household Income

$102,931.17

Average Number of Children

1.41

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

8.54 %

High school certificate or equivalent

25.38 %

Apprenticeship trade certificate/diploma

4.08 %

College/non-university certificate

21.27 %

University certificate (below bachelor)

2.43 %

University Degree

38.31 %

Commuter

Travel To Work

By Car

71.37 %

By Public Transit

8.8 %

By Walking

13.35 %

By Bicycle

0.97 %

By Other Methods

5.51 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

86.59 %

Houses

13.41 %

Own Vs. Rent

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