231 Greenwood Avenue, London South (South D), Ontario N6J 3G5 (29000777)
231 Greenwood Avenue London South, Ontario N6J 3G5
$1,999,900
Purpose built four plex with 2 bedrooms in each unit with with strong valued opportunity with City of London approval to covert into an 8 plex with four 2 bedrooms on the main level and four 2 bedroom lower units. All units have been renovated from top to bottom. Presently 2 units have been converted into 2 bedroom upper and 2 bedroom lower units. The other 2 units are 2+1 bedrooms with a finished bathroom and lower levels roughed in for a 2nd bedroom and kitchen. Strong value-add opportunity with upside already approved. Conversion will increase NOI by over $30,000 annually and lift valuation by approximately $432,000. Present Gross annual Income $132,000 net $115,209.03 Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 net $146,119.03 at 6.5 cap bring valuation to $2,248,000. (id:60297)
Property Details
| MLS® Number | X12467479 |
| Property Type | Multi-family |
| Community Name | South D |
| AmenitiesNearBy | Hospital, Park, Place Of Worship, Public Transit |
| Features | Flat Site, Lane |
| ParkingSpaceTotal | 6 |
| Structure | Patio(s) |
Building
| Age | 51 To 99 Years |
| Amenities | Separate Electricity Meters |
| Appliances | Water Meter |
| BasementDevelopment | Finished |
| BasementType | N/a (finished) |
| CoolingType | Central Air Conditioning |
| ExteriorFinish | Brick |
| FoundationType | Poured Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Heat Pump |
| SizeInterior | 2500 - 3000 Sqft |
| Type | Fourplex |
| UtilityWater | Municipal Water |
Parking
| No Garage | |
| Shared |
Land
| Acreage | No |
| LandAmenities | Hospital, Park, Place Of Worship, Public Transit |
| Sewer | Sanitary Sewer |
| SizeDepth | 198 Ft |
| SizeFrontage | 66 Ft |
| SizeIrregular | 66 X 198 Ft |
| SizeTotalText | 66 X 198 Ft|under 1/2 Acre |
| ZoningDescription | R3-2 |
Utilities
| Cable | Available |
| Electricity | Installed |
| Sewer | Installed |
https://www.realtor.ca/real-estate/29000777/231-greenwood-avenue-london-south-south-d-south-d
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Trevor Tyson
Salesperson
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October 17 2025 12:23:51
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