4615 Oil Springs Line, Oil Springs, ON N0N 1P0
- $499,900
- 7
- BD
- 4
- BA
- 2,500
- SqFt
- List Price
- $499,900
- MLS#
- X13814654
- Status
- ACTIVE
- Type
- Multifamily
- SubType
- Fourplex
- Style
- 2-Storey
- Bedrooms
- 7
- Bathrooms
- 4
- Living Area
- 2500-3000
- Province
- ON
- Municipality
- Oil Springs
- Area
- Lambton
- Neighborhood
- Oil Springs
- Subdivision
- Oil Springs Line & Richmond Street
Property Description
Excellent investment opportunity at 4615 Oil Springs Line in the historic community of Oil Springs. This fully rented fourplex offers immediate income and four self-contained residential units, with the added confidence of appropriate zoning, completed permits, and full compliance.The current unit mix includes Unit A - 3 bedrooms at $1,725/month; Unit B - 1 bedroom at $1,195/month; Unit C - 2 bedrooms at $1,390/month; and Unit D - 2 bedrooms at $1,390/month, for a total current gross rental income of $5,700 per month or $68,400 annually.The building is separately metered, with each tenant responsible for their own gas and hydro, which helps keep ownership expenses straightforward. The owner currently pays only for water, insurance, grass cutting and snow removal.Located approximately 15 minutes from Petrolia, 30 minutes from Sarnia, and one hour from London, this property offers investors the opportunity to acquire an established, fully occupied multi-residential property with income in place from day one. Whether you're expanding an existing portfolio or entering the multi-unit market, 4615 Oil Springs Line is a turnkey investment worth considering.
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Additional Information
- Taxes
- $1,900
- Heat Type
- Forced Air
- Heat Source
- Gas
- Air Conditioning
- None
- Kitchens
- 4
- Exterior
- Aluminum Siding, Shingle
- Garage Spaces
- 1
- Garage Type
- Detached
- Pool
- None
- Parking Spaces
- 4
- Parking Type
- Front Yard Parking, Available
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Listing courtesy of ROYAL LEPAGE TRILAND REALTY.