231 Greenwood Avenue London South, Ontario N6J 3G5
$1,999,900
Purpose built four plex with 2 bedrooms in each unit with with strong valued opportunity with City of London approval to covert into an 8 plex with four 2 bedrooms on the main level and four 2 bedroom lower units. All units have been renovated from top to bottom. Presently 2 units have been converted into 2 bedroom upper and 2 bedroom lower units. The other 2 units are 2+1 bedrooms with a finished bathroom and lower levels roughed in for a 2nd bedroom and kitchen. Strong value-add opportunity with upside already approved. Conversion will increase NOI by over $30,000 annually and lift valuation by approximately $432,000. Present Gross annual Income $132,000 net $115,209.03 Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 net $146,119.03 at 6.5 cap bring valuation to $2,248,000. (id:50886)
Property Details
| MLS® Number | X12467479 |
| Property Type | Multi-family |
| Community Name | South D |
| Amenities Near By | Hospital, Park, Place Of Worship, Public Transit |
| Features | Flat Site, Lane |
| Parking Space Total | 6 |
| Structure | Patio(s) |
Building
| Age | 51 To 99 Years |
| Amenities | Separate Electricity Meters |
| Appliances | Water Meter |
| Basement Development | Finished |
| Basement Type | N/a (finished) |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Brick |
| Foundation Type | Poured Concrete |
| Heating Fuel | Electric, Natural Gas |
| Heating Type | Heat Pump, Not Known |
| Size Interior | 2,500 - 3,000 Ft2 |
| Type | Fourplex |
| Utility Water | Municipal Water |
Parking
| No Garage | |
| Shared |
Land
| Acreage | No |
| Land Amenities | Hospital, Park, Place Of Worship, Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 198 Ft |
| Size Frontage | 66 Ft |
| Size Irregular | 66 X 198 Ft |
| Size Total Text | 66 X 198 Ft|under 1/2 Acre |
| Zoning Description | R3-2 |
Utilities
| Cable | Available |
| Electricity | Installed |
| Sewer | Installed |
https://www.realtor.ca/real-estate/29000777/231-greenwood-avenue-london-south-south-d-south-d
Contact Us
Contact us for more information
Trevor Tyson
Salesperson
(519) 473-9992
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October 23 2025 12:36:48
London and St. Thomas Association of REALTORS®
Prime Real Estate Brokerage