434 Second Street, London, ON N5W 4T1
- $685,000
- 8
- BD
- 4
- BA
- 1,500
- SqFt
- List Price
- $685,000
- MLS#
- X13586434
- Status
- ACTIVE
- Type
- Multifamily
- SubType
- Duplex
- Style
- 1 1/2 Storey
- Bedrooms
- 8
- Bathrooms
- 4
- Living Area
- 1500-2000
- Province
- ON
- Municipality
- London
- Area
- Middlesex
- Neighborhood
- East
- Subdivision
- Dundas St & Second St
Property Description
An excellent investment opportunity with proven cash flow, this fully tenanted 8-bedroom duplex near Fanshawe College offers immediate rental income and an attractive cap rate of over 6% based on current rental revenue and estimated operating expenses. The property consists of two self-contained 4-bedroom, 2-bathroom units, each featuring a private entrance, in-suite laundry, its own furnace and central air conditioning, and separately metered hydro. Current annual gross rental income is approximately $53,000, with an estimated net operating income of approximately $44,000. Located just steps from Fanshawe College, the property sits in one of London's strongest student and workforce rental markets, supporting consistent tenant demand and long-term investment appeal. Additional features include individual HVAC systems for each unit, internet and cable wiring in every bedroom, and a 12 x 10 shed with a steel roll-up door for convenient additional storage. An incredible opportunity to purchase a fully leased, income-producing asset offering immediate cash flow in one of London's most established rental locations.
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Additional Information
- Taxes
- $3,336
- Heat Type
- Forced Air
- Heat Source
- Gas
- Air Conditioning
- Central Air
- Family Room
- Yes
- Kitchens
- 2
- Exterior
- Vinyl Siding
- Garage Type
- None
- Pool
- None
- Parking Spaces
- 7
- Parking Type
- Private Double
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Listing courtesy of TEAM GLASSER REAL ESTATE BROKERAGE INC..