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INVESTMENT AND/OR OWNER OCCUPY OPPORTUNITY. This desirable 3800 square foot building on good lot with rear parking, 6 vehicle mutual drive, located on busy, high visibility Adelaide Street N. The building is in great shape, well-maintained, freshly painted, and is presently fully occupied by four residential Tenants and one retail Tenant and achieves a gross operating income of $67,860 per year. Apt 1, 2, & 3 are month-to-month. Attractive main floor 600′ sq ft retail space with street frontage leased $1500 per month. Retail includes storage space in basement. Coin laundry from residential tenants produces $1,570 yearly. Current Rental license 2022. Present rent: Apt 1-$1,315, Apt 2-$1,056, Apt 3-$701, Apt 4-$1150. RECENT UPDATES: New furnace installed (Dec 22), New tankless on demand water heater (Dec 22), Bath wall in Apt 3, and freshly painted throughout. Overall, this property is a desirable investment opportunity due to its location on a busy, high-visibility street, its well-maintained condition, and its steady income stream. If you are interested in viewing the property, please note that a 24+ HOUR NOTICE must be given for showings.
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1475 sqft.
London, ON
x 3
x 3
