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351 Princess Avenue, London, ON N6B 2A7

$1,800,000
: 10
BD
: 10
BA
: 3,500
SqFt

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List Price: $1,800,000
MLS#: X14140328
Status: ACTIVE
Type: Multifamily
SubType: Multiplex
Style: 2-Storey
Bedrooms: 10
Bathrooms: 10
Living Area: 3500-5000
Province: ON
Municipality: London
Area: Middlesex
Neighborhood: East
Subdivision: Waterloo St And Princess Ave

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Property Description

Investment Opportunity in the heart of desirable Woodfield! Welcome to 315 Princess Ave, this 10-unit income property offers an excellent opportunity for investors looking to add a solid, established asset to their portfolio. The property features ten 1-bedroom rental units and a 10-car garage, providing both reliable rental income and valuable parking. Generating approximately $157,431 in total revenue and offering a 6.2% cap rate, this property combines strong current performance with long-term investment potential in one of London's most sought-after central neighbourhoods. Several important upgrades have already been completed, including a new hot water boiler in 2019, two owned hot water tanks installed approximately in 2022, 60-amp breaker panels in all units, and a flat roof approximately 6 years old. Coin operated Washer & Dryer on site. With 9 units currently occupied, recent capital improvements, ample garage parking, and a prime Woodfield location close to the amenities, restaurants, shops, and conveniences of central London, 315 Princess Ave is an excellent opportunity to acquire a turnkey multi-residential investment with proven income.

(416) 919-7107

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Additional Information

Taxes: $20,615
Heat Type: Water
Heat Source: Gas
Air Conditioning: Other
Kitchens: 10
Exterior: Brick
Garage Spaces: 10
Garage Type: Detached
Pool: None
Parking Spaces: 12