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$ 688,888
Est. payment /mo
New
96 EMERY Street W London, ON N6J1R8
7 Beds
5 Baths
1,983 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 1,983 sqft
Price per Sqft $347
Subdivision South E
MLS® Listing ID 40778135
Bedrooms 7
Year Built 1951
Lot Size 4,791 Sqft
Acres 0.11
Property Sub-Type Freehold
Source Cornerstone Association of REALTORS®
Property Description
This legal triplex with rental license in place is larger than it appears with big addition in the back and walk-out basement entrances, which features a bonus fourth suite. The main floor unit features 4 beds and 2 full baths, projected to be rented for $2575/month. The upper 1 bed and 1 bath unit is rented for $1295/month. The downstairs rear walk-out unit is rented for $1500/month and the other side access walk up basement suite is projected to be rented for $1300/month . This brings the cumulative rent to $6670/month. The very low property taxes ($241/month) grandfathered also helps with a projected Cap Rate of 8.6%+, projected net operating income (NOI) of over $60,000 annually. Over $150,000 was invested during the current ownership, with extensive upgrades on everything from brand new 200 amp electric panel, new flooring, interconnected fire separations, quartz countertops, tiled showers, upgarded HVAC with vents in all 5 bathrooms, cosmetic improvements of 2 bathrooms, and 3 completely renovated bathrooms. Property features triple wide driveway with room for a fourth car to park in tandem; offering an independent parking spot for each unit. The greenspace of the oversized deep backyard, features many mature trees and is fully fenced in. Energy efficient upgrades were also carried out, including a smart thermostat install and a new Central AC unit being added in 2025. Fire and safety improvements include sprinklers, egress windows, and fire doors. Manor Park, which is Old South adjacent is an excellent community, with direct transit access, great green spaces including Eustace Park/The Coves, and ample ammenities. This location is one bus to Western University, Fanshawe College, White Oaks Mall, Masonville Mall, Victoria Hospital, University Hospital and Downtown London. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air,
Cooling Central air conditioning
Exterior
Parking Features No
Fence Fence
Community Features Quiet Area, Community Centre, School Bus
View Y/N No
Total Parking Spaces 4
Private Pool No
Building
Story 1.5
Sewer Municipal sewage system
Others
Ownership Freehold
Virtual Tour https://youriguide.com/96_emery_street_west_london_on/
Listed by EXP REALTY
