592 Adelaide Street N London, Ontario N5X 3W2
$979,000
Excellent investment property near downtown with high traffic exposure. 1 retail/commercial unit and 4 residential units. Unit 1 - 600 sq. ft. retail/commercial shop plus up to 500 sq. ft. basement storage - $3,000.00 all inclusive. Unit 2 - newly renovated luxury main floor apartment renting at $1,290.00 all inclusive, Unit #3 - main floor bachelor apartment renting at $674.00 all inclusive plus an additional 1 room office can be used with the business or could become a bedroom added to the bachelor apartment. 2nd floor - Unit #4 - one bedroom apartment renting for $1,000.00 and Unit #5 - 2 bedroom large apartment renting for $1,019.00 all inclusive plus coin operated laundry in the basement for all tenants. Total annual income is $68,796.00 and total annual expenses are $25,944.00 (including one time cost of exterior painting $7880.00). Net operating income $42,852.00. Mutual driveway with 6 parking spots at the back, nicely landscaped. The property is in very good conditioned and well maintained. (id:47323)
Property Details
| MLS® Number | 40216909 |
| Property Type | Multi-family |
| Amenities Near By | Place Of Worship, Playground, Shopping |
| Communication Type | High Speed Internet |
| Community Features | School Bus |
| Equipment Type | None |
| Features | Laundry- Coin Operated |
| Parking Space Total | 6 |
| Rental Equipment Type | None |
Building
| Bathroom Total | 4 |
| Bedrooms Total | 5 |
| Basement Development | Unfinished |
| Basement Type | Full (unfinished) |
| Constructed Date | 1930 |
| Construction Material | Wood Frame |
| Construction Style Attachment | Detached |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Brick, Stone, Vinyl Siding, Wood |
| Fire Protection | Unknown |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 1800 |
| Utility Water | Municipal Water |
Land
| Access Type | Road Access |
| Acreage | No |
| Land Amenities | Place Of Worship, Playground, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 150 Ft |
| Size Frontage | 35 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Ac4 |
Utilities
| Cable | Available |
| Electricity | Available |
| Natural Gas | Available |
https://www.realtor.ca/real-estate/24086606/592-adelaide-street-n-london
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March 02 2022 08:39:48
London and St. Thomas Association of REALTORS®
RE/MAX Centre City Realty Inc., Brokerage