420 Egerton Street London, Ontario N5W 3Z3
$600,000
Welcome to this outstanding investment opportunity near the Western Fair District! This renovated duplex offers an impressive 7.35% REAL cap rate, making it a solid choice for savvy investors looking to expand their portfolio. This will cashflow at $900/mo+ at todays interest rates. With an 8%+ Cash ROI and 13% ROI when factoring in principal repayment, this is a better return than both GICs and the stock market. With two spacious 2-bedroom units, a comfortable bachelor suite, and a rented garage space, this property is sure to exceed your investment expectations. Each of the 2-bedroom units is currently leased for $1,800 per month, while the bachelor suite commands a rental rate of $1,000 per month. Additionally, the garage space generates an extra $400 per month in income, resulting in a robust revenue stream. This property is close to schools, parks, shopping, Western Fair complex, 100 Kellogg Lane, and public transportation, making it an attractive choice for prospective tenants. Don't miss out on this rare opportunity to secure a high-yield, income-generating duplex with immense potential for the future. Contact us today to schedule a viewing and take the first step toward growing your real estate investment portfolio. (id:28006)
Property Details
| MLS® Number | 40534328 |
| Property Type | Multi-family |
| Amenities Near By | Place Of Worship, Public Transit, Schools |
| Community Features | Community Centre |
| Features | Laundry- Coin Operated |
| Parking Space Total | 4 |
Building
| Bathroom Total | 3 |
| Bedrooms Total | 4 |
| Basement Development | Partially Finished |
| Basement Type | Full (partially Finished) |
| Constructed Date | 1930 |
| Cooling Type | None |
| Exterior Finish | Brick, Vinyl Siding |
| Fireplace Present | No |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 1408 |
| Type | Duplex |
| Utility Water | Municipal Water |
Parking
| Detached Garage |
Land
| Access Type | Road Access |
| Acreage | No |
| Land Amenities | Place Of Worship, Public Transit, Schools |
| Sewer | Municipal Sewage System |
| Size Depth | 75 Ft |
| Size Frontage | 33 Ft |
| Size Irregular | 0.057 |
| Size Total | 0.057 Ac|under 1/2 Acre |
| Size Total Text | 0.057 Ac|under 1/2 Acre |
| Zoning Description | R2-2 |
https://www.realtor.ca/real-estate/26460686/420-egerton-street-london
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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
London and St. Thomas Association of REALTORS®
Century 21 First Canadian Corp., Brokerage
January 30 2024 05:21:50
