49 PADDINGTON AVENUE London

49 PADDINGTON AVENUE, London

$699,000

  • 6
  • 3
This fully renovated seperately metered Three Unit income property in Manor Park works as an ideal seemless compliment to exisiting porfolios, as a solid first aquisition in the real estate investing world, and/or as a great oppurtunity to occupy one unit and generate income on the other units. The property just completed and passed fire and electrical safety inspections in July of 2024 helping reinforce this as a safe investment and/or new location to call home. As of December 1st the split level three bedroom and upper one bedroom unit will be vacant with sale (unless requested to be leased by buyer; negotiable to be vacant sooner). This property has been creatively designed to keep all the living space above grade; with all units having been recently renovated and all major elements being replaced or upgraded; with bonus storage units created and rented below grade providing an additional income stream. This property provides very close access to the high energy major transportaion routes for public transit and is situated near to shopping centres. The area also offers great naturscapes to explore including Eustace Park and The Coves protected area. This fully tenanted property offers an annual income of at over $50,000 after expenses this property is a prime candidate for a cash flowing asset projected at a 7% Cap Rate at asking. As noted the newly renovated basement space allows for additional income with storage units with the space freshly painted, spray foamed and the cielings drywalled. The shared basement space also features a laundry room with two washers and two dryers for usage between the tenants. Basement additionally waterproofed, insulated and ceiling / walls newly drywalled. Between the previous professional home inspection, the electrical safety authority inspection, and the fire inspection; it is of upmost importance to the current owner than the new buyer inherites a safe property. Detailed financials are also available and can be provided. (id:50004)
  • Listing ID: X9356894
  • Property Type: Single Family
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Rooms

LevelTypeDimensions
Second LevelBathroom1.21 m x 2.16 m
Second LevelBathroom1.6 m x 2.31 m
Main LevelBathroom1.6 m x 2.4 m

Details

  • Equipment: Water Heater - Electric
  • Features: Flat site
  • Parking Spaces: 4
  • Rental Equipment: Water Heater - Electric
  • Structure: Shed
  • Transaction: For sale

Building

  • Amenities: Canopy
  • Appliances: Water Heater, Dishwasher, Dryer, Microwave, Refrigerator, Stove, Washer, Window Coverings
  • BasementType: Partial
  • Basement Features: Separate entrance
  • Bedrooms Main Level: 6
  • Exterior Finish: Vinyl siding, Concrete
  • Fireplace Present: False
  • Fire Protection: Smoke Detectors
  • Foundation: Block
  • Bathrooms (Total): 3
  • Heating: Baseboard heaters
  • Heating Fuel: Electric
  • Size Interior: 1099.9909 - 1499.9875 sqft
  • Stories Total: 2
  • Type: Triplex
  • Utility Water: Municipal water

Land

  • Sewer: Sanitary sewer
  • Size Depth: 95 ft
  • Size Frontage: 35 ft
  • Size Irregular: 35 x 95 FT

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    This property for sale is located at 49 PADDINGTON AVENUE in London. It was last modified on October 8th 2024. Let us connect you with one of our real estate agents to schedule a viewing or to discover other London homes for sale.

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