Presenting a rare opportunity to acquire a 7-unit multifamily property package in the heart of downtown London. This offering includes both a triplex and a fourplex, providing immediate cash flow and long-term value-add potential. The unit mix features four 2-bedroom units and three 1-bedroom units, appealing to a wide tenant demographic. Four units have been fully renovated with modern upgrades, offering strong rental appeal and reduced maintenance, while the remaining three units present clear potential for forced appreciation through cosmetic and functional improvements. Currently operating at a 5.4% cap rate, this property provides solid in-place returns with the opportunity to further enhance income as rents are brought to market and value-add improvements are completed. Shared on-site laundry facilities provide additional tenant convenience and a secondary income stream. Strategically located just steps from Londons downtown core, tenants benefit from proximity to transit, shopping, dining, employment hubs, and post-secondary institutions. This central location helps ensure consistent rental demand and low vacancy. For investors seeking both stability and upside, this property represents an exceptional opportunity to acquire a turnkey asset with multiple pathways to grow equity and cash flow. (id:52316)
PRIME REAL ESTATE BROKERAGE
$1,224,900
376 BURWELL STREET, London East, Ontario
11 Bedrooms
7 Bathrooms
Property
MLS® Number: X12376527
Address: 376 BURWELL STREET
City: London East
Exterior: Brick
Utilities
Heating: Baseboard Heaters, Electric
Parking
Parking Spaces: 2
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Property Sale History
Travel and Neighbourhood
70/100Walk Score®
Very Walkable
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Location
