870 Queens Avenue, London, ON N5W 3H6

$920,000
: 6
BD
: 4
BA
: 1,500
SqFt

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List Price: $920,000
Price Change: ▼ $280,000 1786738564
MLS#: X12979630
Status: ACTIVE
Type: Multifamily
SubType: Triplex
Style: 2-Storey
Bedrooms: 6
Bathrooms: 4
Living Area: 1500-2000
Province: ON
Municipality: London
Area: Middlesex
Neighborhood: East
Subdivision: Queens Ave And Ontario Street

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Property Description

Projected future rents for the triplex are estimated at $2,200/month for the upper level, $2,500/month for the ground level (currently owner-occupied), and $1,500/month for the basement unit, resulting in an approximate annual Net Operating Income (NOI) of $61,000; tenants pay hydro, as all units are separately metered. Seller is happy to remain as a tenant if the buyer wishes. (42562568) For reference, the seller's expense figures behind the NOI: house insurance $3,000, land care $1,000, snow removal $1,000, water heater rental $480 (taxes already in the listing).

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Additional Information

Taxes: $5,544
Heat Type: Forced Air
Heat Source: Gas
Air Conditioning: None
Kitchens: 3
Exterior: Brick, Brick Front
Garage Type: None
Pool: None
Parking Spaces: 3
Parking Type: Private