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$599,000
Est. payment /mo
3 Beds
2 Baths
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Approx. Sqft 700-1100
Subdivision North N
MLS Listing ID X14152220
Style Bungalow
Bedrooms 3
Annual Tax Amount $5,060
Tax Year 2026
Property Sub-Type Detached
Property Description
INVESTOR ALERT! INCOME-GENERATING STUDENT RENTAL WITH FUTURE DEVELOPMENT POTENTIAL!Excellent investment opportunity in London! Walking distance to university and public transit.This solid brick corner-lot bungalow offers an attractive combination of established rentalincome, a City of London rental license and potential for future income expansion.Featuring 5 bedrooms, this property is ideally suited for student accommodation. The main flooroffers a spacious eat-in kitchen, bright living room with wood-burning fireplace, 2 generouslysized bedrooms and a 3-piece bathroom. The finished lower level features a separate entrance, 3additional bedrooms, family room, 3-piece bathroom, utility room, laundry and ample storagespace.CITY-LICENSED RENTAL PROPERTY! Previously inspected by the City inspector and Fire Department.Equipped with interconnected, hardwired smoke and carbon monoxide alarms on both levels.PROVEN RENTAL COLLECTIONS:May 2024 - April 2025: $42,535May 2025 - April 2026: $37,270FUTURE DEVELOPMENT POTENTIAL! Following the 2023 City of London zoning by-law changes, theproperty may qualify for a detached garden suite, offering an opportunity to generateadditional rental income, subject to municipal approvals and permits.Additional highlights include a roof replaced in 2024, concrete parking pad and a spaciousbackyard.Whether you are looking to expand your student rental portfolio or maximize returns throughfuture development, this property offers excellent investment potential!DON'T MISS THIS OPPORTUNITY TO OWN AN INCOME-PRODUCING PROPERTY WITH ROOM TO GROW!
Location
Province ON
County Middlesex
Area Middlesex
Rooms
Family Room No
Basement Separate Entrance
Kitchen 1
Separate Den/Office 3
Interior
Interior Features None
Cooling Other
Fireplace Yes
Heat Source Gas
Exterior
Parking Features Private
Pool None
Roof Type Asphalt Shingle
Lot Frontage 37.0
Lot Depth 120.0
Total Parking Spaces 4
Building
Foundation Poured Concrete
Others
ParcelsYN No
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Listed by ROYAL LEPAGE FLOWER CITY REALTY
NEARBY SCHOOL & BUSINESS
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