592 Adelaide Street N London, Ontario N6B 3J8
$899,900
INVESTMENT AND/OR OWNER OCCUPY OPPORTUNITY. This desirable 3800 square foot building on good lot with rear parking, 6 vehicle mutual drive, located on busy, high visibility Adelaide Street N. The building is in great shape, well-maintained, freshly painted, and is presently fully occupied by four residential Tenants and one retail Tenant, and achieves a gross operating income of $67,860 per year. Great opportunity for an owner-occupier or investor to choose two of their own residential tenants. Apt 1 and Apt 4 leases expire June 30th, 2022 and will be month-to-month unless notice is given. Apt 2 & Apt 3 have received notice of rent increase beginning Sept 1st. Attractive main floor 600' sq ft retail space with street frontage leased $1500 per month. Retail includes storage space in basement. Coin laundry from residential tenants produces $1,500 yearly. Current Rental license 2022. Present rent: Apt 2 $1030 Apt 3 $684 Sep. 1st: Apt 1 $1305 Apt 4 $1010 24+ HOUR NOTICE MUST BE GIVEN FOR SHOWINGS. GREAT OPPORTUNITY FOR OWNER OCCUPIED WITH INCOME. (id:20429)
Property Details
| MLS® Number | 40273233 |
| Property Type | Multi-family |
| Amenities Near By | Playground, Public Transit, Shopping |
| Community Features | School Bus |
| Features | Laundry- Coin Operated |
| Parking Space Total | 6 |
Building
| Bedrooms Total | 5 |
| Basement Development | Unfinished |
| Basement Type | Full (unfinished) |
| Constructed Date | 1930 |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Brick, Other |
| Fire Protection | Unknown |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 3800 |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Playground, Public Transit, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 150 Ft |
| Size Frontage | 35 Ft |
| Size Irregular | 0.119 |
| Size Total | 0.119 Ac|under 1/2 Acre |
| Size Total Text | 0.119 Ac|under 1/2 Acre |
| Zoning Description | Ac4 |
https://www.realtor.ca/real-estate/24516882/592-adelaide-street-n-london
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London and St. Thomas Association of REALTORS®
Sutton Group Preferred Realty Inc., Brokerage
June 22 2022 08:49:33
