59 Saunby Street N,London North (North K), ON N6G1A4
London North (North K), ON N6G1A4
Description
Excellent investment opportunity in highly desirable and convenient London location, offering multiple income streams and significant rental upside. The property features a legal 4-unit residential building, with each apartment offering 3 bedrooms and 1 living room. Plus, a separate 2-bedroom, 1 living room house on the same property. The property is currently rented at approximately $500 per bedroom per month. Based on current rental demand and comparable accommodations in the area, market rents may be approximately $800 per bedroom per month, subject to market conditions, tenant demand, and applicable regulations. This represents meaningful potential for an investor to improve rental income over time through proper management and market positioning. The location is particularly attractive for a student and professional tenants, with a university, shopping, restaurants, public transit, and other amenities nearby. The property's multiple bedrooms, existing residential configuration and separate house provide excellent flexibility for rental income, owner occupancy, or multi-generational living. The property is currently zoned R8-4R3. . A rare opportunity to acquire a multi-unit property with a substantial existing accommodation, strong rental demand, and significant potential to increase income. An excellent option for investors seeking both current rental income and long-term appreciation and redevelopment potential. (id:13843)
Details
| MLS # | X13880470 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 12 |
| Listing Provided By | RIGHT AT HOME REALTY | RONG YI |
Features
| Bed(s) | 14 |
|---|---|
| Bath(s) | 5 Total |
| SQ Feet | 5,000 |
| Zoning | R8-4R3 |
| Property View | City view |
Interior
| Cooling | None |
|---|---|
| Heating | Baseboard heaters, Electric, Natural gas |
| Appliances | Refrigerator, Water meter, Stove, Window Coverings |
| Fireplace Yes / No | No |
Exterior
| Security Features | Security system, Smoke Detectors |
|---|---|
| Lot Features | Dry |
| Foundation Details | Concrete |
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 5 |
Utilities
| Utilities | Sewer, Electricity, Cable |
|---|---|
| Sewer | Sanitary sewer |
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 9187 |
|---|
Area Information
| Province | ON |
|---|---|
| City | London North (North K) |
| Postal Code | N6G1A4 |
| Listing VS Median (in N6G1A4) | |
Price: $1,350,000 low | high Med: $1,350,000 sqft: 5,000 low | high Med: 5,000 $ / sqft: $270 low | high Med: $270 On site: 12 low | high Med: 12 | |
Request a showing
Request a showing
Contact
Learn More About This Property
| Province | ON |
|---|---|
| City | London North (North K) |
| Postal Code | N6G1A4 |
| Listing VS Median (in N6G1A4) | |
Price: $1,350,000 low | high Med: $1,350,000 sqft: 5,000 low | high Med: 5,000 $ / sqft: $270 low | high Med: $270 On site: 12 low | high Med: 12 | |