547 William ST new Save Request In-Person Tour Request Virtual Tour
London East,ON N6B 3E8
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500-2000
Subdivision East F
MLS Listing ID X12342400
Style 2-Storey
Bedrooms 2
Building Age 100+
Annual Tax Amount $5,349
Tax Year 2024
Property Sub-Type Duplex
Property Description
Fantastic investment opportunity on this solid duplex in the heart of OLD NORTH-WOODFIELD VILLAGE with excellent opportunity to ADD SECONDARY DWELLING UNIT(S) ON THIS 150 FOOT LOT! Main floor is 2 bedrooms but could be 2 bedrooms plus den, upper level is large one bedroom with oversized kitchen and newer walk out deck overlooking beautiful mature yard. Tenants pay all utilities. LANDLORD ONLY PAYS WATER. Cap rate of 5.4 % but based on PRIOR rents which were under market value. Large front porch which is great outdoor space for main floor tenant. Parking for 2 cars. Fantastic opportunity for young buyers to get into the market and have one unit significantly support their mortgage payments. Prior rents on main were $1856 plus hydro and gas heating costs, upper unit $1600 plus hydro and heat (heated by hydro). Both water heaters are owned. Each unit has its own laundry. Updates include new steel roof and eavestroughs in 2025, newer rear decking off upper unit, furnace approx. 10 years old. 11 appliances included plus upper unit window air conditioner. Income: $41,472 (based on prior rents) Expenses: $8,049. Net: $33,423.
Location
Province ON
County Middlesex
Community East F
Area Middlesex
Zoning R3-2
Rooms
Family Room No
Kitchen 2
Interior
Cooling Wall Unit(s)
Inclusions 2 Refrigerators, 2 Stoves, 2 Dishwashers, 2 Washers, 2 Dryers, Microwave, window coverings
Exterior
Exterior Feature Deck
Parking Features Front Yard Parking
Pool None
Roof Type Fibreglass Shingle
Building
Foundation Brick
Others
Virtual Tour https://youtu.be/lbi22HgnHwQ