ON > London South > South D
London South, ON N6J 3G5,231 Greenwood AVE
London South, ON N6J 3G5,231 Greenwood AVE
London South, ON N6J 3G5,231 Greenwood AVE
London South, ON N6J 3G5,231 Greenwood AVE
London South, ON N6J 3G5,231 Greenwood AVE
London South, ON N6J 3G5,231 Greenwood AVE
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Mahesh Khatri

Mahesh Khatri

+1(416) 464-6568
$ 1,999,900
Est. payment | /mo
Save
$ 1,999,900
Est. payment | /mo
Save

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 2500-3000

Subdivision South D

MLS Listing ID X12467479

Style 1 Storey/Apt

Annual Tax Amount $6,135

Tax Year 2025

Property Sub-Type Fourplex

Property Description

Purpose built four plex with 2 bedrooms in each unit with with strong valued opportunity with City of London approval to covert into an 8 plex with four 2 bedrooms on the main level and four 2 bedroom lower units. All units have been renovated from top to bottom. Presently 2 units have been converted into 2 bedroom upper and 2 bedroom lower units. The other 2 units are 2+1 bedrooms with a finished bathroom and lower levels roughed in for a 2nd bedroom and kitchen. Strong value-add opportunity with upside already approved. Conversion will increase NOI by over $30,000 annually and lift valuation by approximately $432,000. Present Gross annual Income $132,000 net $115,209.03 Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 net $146,119.03 at 6.5 cap bring valuation to $2,248,000. Over $400,000 value upside potential based on developed property income. Asking price premium includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings, 8x2 development approximately 75% complete."

Location

Province ON

County Middlesex

Community South D

Area Middlesex

Zoning R3-2

Rooms

Family Room No

Basement Finished

Kitchen 0

Interior

Interior Features Separate Hydro Meter

Cooling Central Air

Exterior

Exterior Feature Patio

Parking Features Lane, Unreserved

Pool None

Roof Type Asphalt Shingle

Lot Frontage 66.0

Lot Depth 198.0

Total Parking Spaces 6

Building

Building Age 51-99

Foundation Poured Concrete

Others

Senior Community No

ParcelsYN Yes

Listed by PRIME REAL ESTATE BROKERAGE
Mahesh Khatri

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(416) 464-6568

mkhatri.teammahesh@gmail.com

7885 Tranmere Dr Unit 1, Mississauga, Ontario, L5S1V8, CAN

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231 Greenwood AVE