$ 2,475,000
894 ADELAIDE ST N London, ON N5Y 2M5
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$ 2,475,000
Est. payment | /mo
8 Beds
6 Baths
0.5 Acres Lot
$ 2,475,000
Est. payment | /mo
8 Beds
6 Baths
0.5 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID X9041490
Style 3-Storey
Bedrooms 8
Annual Tax Amount $6,458
Tax Year 2023
Lot Size 0.500 Acres
Property Description
WITH $750,000 DOWN THE SELLER WILL HOLD A FIRST MORTGAGE FOR THE BALANCE OF THE PURCHASE PRICE AT 3.9% INTEREST ONLY. Excellent apartment building on the edge of old north. 6-unit building consisting of 5-2-bedroom apartments and a one bedroom. Completley renovated to drywall, floor, and ceiling. Luxury contemporary kitchens with quartz countertops, and 3 stainless steel appliances. Luxury baths with full tubs and vanities with quartz countertops. High end light fixtures, tile and flooring throughout suites and common areas. Electric fireplaces in all units. Controlled entry with video doorbells. New electrical, plumbing, and high efficiency boiler system. New high Efficiency windows throughout. New sidewalks and asphalt parking lot and driveway. Annual income of approx. $130,160. ATTENTION BUILDERS. site plan and building permit approved for a new adjacent apartment building that you can build consisting of 9 two-bedroom units with in suite laundry and Juliet balconies. The building will be 3 floors, with 3 units per floor, raised 2 storey building with total sq. Ft of approx. 6000. Build the building and have approx. $11,000 in income coming in each month while you build it. RENTS ARE ALL PLUS HYDRO ON EXISTING BUILDING. FINAL PROJECTED COMPLETION VALUE OF $5,502,560. Acquisition cost ($2,475,000). Plus, construction cost ($1,500,000) $3,975,000 NET PROFIT ($1,527,560.)
Location
Province ON
County Middlesex
Rooms
Family Room No
Basement Full, Finished
Kitchen 6
Interior
Interior Features Other
Cooling None
Fireplace No
Exterior
Garage Private, Other
Garage Spaces 8.0
Pool None
Waterfront No
Roof Type Asphalt Shingle
Building
Lot Description Irregular Lot
Unit Features Hospital
Foundation Concrete Block
Others
Security Features Carbon Monoxide Detectors
Listed by SUTTON GROUP - SELECT REALTY
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