417 Grey Street London, Ontario N6B 1H1
$778,000
This fully renovated VACANT triplex in London, ON, is a prime investment opportunity, offering modern finishes, excellent rental income potential, and a strong cap rate of over 7.5%. Situated on a deep lot with room for future development, this property features three beautifully updated units. Each unit boasts brand-new luxury vinyl plank flooring, stylish kitchens with quartz countertops in one unit, upgraded appliances (in all units), and elegant tiled backsplashes. The main floor unit is bright and open-concept, with direct access to the backyard, in-suite laundry, and a partially finished basement perfect for storage. It previously rented for approximately $2,000 per month. The second unit is a well-designed studio apartment with contemporary finishes, generating around $1,350 per month. The upper-level unit features a spacious, open layout with two bedrooms and a brand-new shower, previously renting for $2,200 per month. With its turnkey condition, strong rental demand, and potential for additional development, this triplex is a rare opportunity for investors or those looking to live in one unit while renting out the others. Don't miss out on this high-yield property! (id:49187)
Property Details
| MLS® Number | X12052448 |
| Property Type | Multi-family |
| Community Name | East K |
| Amenities Near By | Hospital, Park, Place Of Worship, Public Transit |
| Features | Flat Site, Carpet Free |
| Parking Space Total | 3 |
| Structure | Porch, Shed |
| View Type | City View |
Building
| Bathroom Total | 3 |
| Bedrooms Above Ground | 4 |
| Bedrooms Total | 4 |
| Age | 51 To 99 Years |
| Amenities | Separate Electricity Meters |
| Appliances | Water Heater, Dryer, Stove, Washer, Refrigerator |
| Basement Development | Unfinished |
| Basement Type | N/a (unfinished) |
| Exterior Finish | Brick |
| Fire Protection | Smoke Detectors |
| Foundation Type | Block |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 1500 - 2000 Sqft |
| Type | Triplex |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Fence Type | Fenced Yard |
| Land Amenities | Hospital, Park, Place Of Worship, Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 165 Ft ,4 In |
| Size Frontage | 35 Ft ,1 In |
| Size Irregular | 35.1 X 165.4 Ft ; 35.06 Ft X 165.38 Ft X 35.13 Ft X 166.24 |
| Size Total Text | 35.1 X 165.4 Ft ; 35.06 Ft X 165.38 Ft X 35.13 Ft X 166.24|under 1/2 Acre |
| Zoning Description | R3-1 |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | Bedroom | 3.35 m | 2.78 m | 3.35 m x 2.78 m |
| Second Level | Bathroom | 2.26 m | 1.75 m | 2.26 m x 1.75 m |
| Second Level | Bedroom 2 | 3.35 m | 2.8 m | 3.35 m x 2.8 m |
| Second Level | Living Room | 3.67 m | 2.77 m | 3.67 m x 2.77 m |
| Second Level | Kitchen | 3.67 m | 2.8 m | 3.67 m x 2.8 m |
| Main Level | Living Room | 3.94 m | 5.68 m | 3.94 m x 5.68 m |
| Main Level | Kitchen | 3.69 m | 3.48 m | 3.69 m x 3.48 m |
| Main Level | Primary Bedroom | 2.78 m | 2.94 m | 2.78 m x 2.94 m |
| Main Level | Bathroom | 2.29 m | 1.51 m | 2.29 m x 1.51 m |
| Main Level | Primary Bedroom | 3.79 m | 5.67 m | 3.79 m x 5.67 m |
| Main Level | Kitchen | 2.56 m | 1.51 m | 2.56 m x 1.51 m |
| Main Level | Dining Room | 3.69 m | 2.2 m | 3.69 m x 2.2 m |
| Main Level | Bathroom | 2.15 m | 3.43 m | 2.15 m x 3.43 m |
Utilities
| Cable | Available |
| Sewer | Installed |
https://www.realtor.ca/real-estate/28099066/417-grey-street-london-east-k
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April 14 2025 02:50:54
London and St. Thomas Association of REALTORS®
Century 21 First Canadian Corp., Brokerage