Homes for sale - 1042 BROUGH ST, London East, ON N6A 3N4

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sat

May

Sun

May

Mon

May

META FROM HOUSESHOP.IO

meta@houseshop.io +1(647) 692-2434

$979,900

Est. payment - /mo

9 Beds

3 Baths

Save

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 2000-2500

Subdivision East B

MLS Listing ID X12168364

Style Bungalow

Bedrooms 9

Building Age 51-99

Annual Tax Amount $7,677

Tax Year 2024

Property Sub-Type Duplex

Property Description

Investors! Rare opportunity to own a licensed duplex situated in A+ location directly across from Kings College/UWO. This property is currently leased out for $6,000/month and is perfect for investors looking for a turnkey property with strong cash flow. The current leases are from May 1, 2025 to April 30, 2026 and generate $72,000/year in rental revenue,. This deceivingly large property has always been rented with ease based on the location and bedroom sizes and has never seen a vacancy since the owner has taken possession. The upper unit offers 5 bedrooms leased at $3,400/month (There are 5 bedrooms but only 4 rented). The lower level unit features 4 bedrooms leased at $2,600/month. Each unit has in-suite laundry. Owner pays heat ($1,280/year) and hydro ($3,501/year). There is strong potential to increase the rents to $1,000/room once the leases turnover next year based on current market rents and proximity to Kings College, adding a lot of value to your investment. Normalized revenue based on market rents and 5 bedrooms on main floor would be $108,000/year, yielding an impressive cap rate of 9.5% at the current list price - See attachment for cap rate calculations based on current and potential market rents. Recent upgrades include all new flooring in lower level, pot lights throughout, sprinkler system, and fresh paint throughout. Furnace was replaced in 2014, A/C 2012, and Roof in 2011. This is an exceptional investment in a high-demand location with proven income and long-term value growth.

Location

Province ON

County Middlesex

Community East B

Area Middlesex

Zoning R1-6(1)

Rooms

Family Room No

Basement Finished, Full

Kitchen 2

Separate Den/Office 4

Interior

Interior Features In-Law Capability, In-Law Suite

Cooling Central Air

Inclusions 2 fridges, 2 stoves, 2 dishwashers, 2 washers, 2 dryers

Exterior

Exterior Feature Privacy

Parking Features Private Double

Pool None

Roof Type Asphalt Shingle

Lot Frontage 51.0

Lot Depth 125.0

Total Parking Spaces 4

Building

Foundation Poured Concrete

New Construction false

Others

Senior Community No

Read Less Info

Listed by COLDWELL BANKER POWER REALTY

GET MORE INFORMATION

META FROM HOUSESHOP.IO

+1(647) 692-2434

Realtor®

1042 BROUGH ST London East, ON N6A 3N4

META FROM HOUSESHOP.IO

Key Details

Location

Rooms

Interior

Exterior

Building

Others