Welcome to this outstanding investment opportunity near the Western Fair District! This renovated duplex offers an impressive 7.6% REAL cap rate, making it a solid choice for savvy investors looking to expand their portfolio. This will cashflow at $1000/mo+ at today's interest rates. With a 10.9%+ Cash ROI and 19% 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 rentable garage space, this property will surely exceed your investment expectations. Each of the 2-bedroom units is currently leased for $1,700 per month, while the bachelor suite commands a rental rate of $1,100 per month. Additionally, the garage space can generate an extra $400 per month in income, resulting in a robust revenue stream. This property is close to schools, parks, shopping, the 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. (id:4069)
Address
420 EGERTON STREET
List Price
$499,900
Property Type
Multi-family
Type of Dwelling
Duplex
Area
Ontario
Sub-Area
London
Bedrooms
4
Bathrooms
3
Floor Area
11,001,500 Sq. Ft.
Lot Size
33 x 75 Acre Sq. Ft.
MLS® Number
X11985707
Listing Brokerage
CENTURY 21 FIRST CANADIAN CORP
Basement Area
Full
Postal Code
N5W3Z3
Zoning
R2-2
Site Influences
Public Transit, Place of Worship, Park
Features
Flat site
