7 Marmora Street,London East (East L), ON N5Z1Z4
London East (East L), ON N5Z1Z4
Description
Licensed for three units and zoning-confirmed by the City of London - this solid brick three-unit property in London's SoHo neighbourhood delivers $48,300 in gross annual income and a 6.68% cap rate on an NOI near $35,729. The building holds a 2-bed front unit at $1,650, a 1-bed main floor rear unit at $1,275, and a bright 1-bed basement unit, currently vacant with $1,100 in rental potential, giving a buyer the chance to set a fresh market rent from day one or owner-occupy and house-hack, living in one unit while the other two help carry the mortgage. The City's building permit records confirm the three-unit configuration meets zoning requirements, and the property carries an active City of London rental licence covering all three units. A recently passed fire inspection, a roof in good condition, and central heating and air conditioning in good working order round out a low-maintenance package. Tenants share side-entrance laundry, a nice backyard, and parking for five vehicles (one at the front and four at the rear). All-inclusive utilities keep ownership simple. A standout addition to any income portfolio! (id:374)
Details
| MLS # | X13801422 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 33 |
| Listing Provided By | PRIME REAL ESTATE BROKERAGE | KELLAN JAMES PANICCIA |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 1,100 |
| Basement | Y |
| Story(s) | 1 |
| Zoning | R2-2 |
Interior
| Cooling | Central air conditioning |
|---|---|
| Heating | Forced air, Natural gas |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Carpet Free |
|---|---|
| Foundation Details | Block, Brick |
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 4 |
Utilities
| Utilities | Sewer, Electricity, Cable |
|---|---|
| Sewer | Sanitary sewer |
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 3738.36 |
|---|
Area Information
| Province | ON |
|---|---|
| City | London East (East L) |
| Postal Code | N5Z1Z4 |
| Listing VS Median (in N5Z1Z4) | |
Price: $525,000 low | high Med: $467,000 sqft: 1,100 low | high Med: 1,100 $ / sqft: $477 low | high Med: $425 On site: 33 low | high Med: 19 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | London East (East L) |
| Postal Code | N5Z1Z4 |
| Listing VS Median (in N5Z1Z4) | |
Price: $525,000 low | high Med: $467,000 sqft: 1,100 low | high Med: 1,100 $ / sqft: $477 low | high Med: $425 On site: 33 low | high Med: 19 | |
