49 Paddington Ave
London | South E | N6J 2S5- 6
- 3
- 0
Ask: $699,000 $680,000
-
Days on market
24
-
Status
Pc
Home details
- MLS #:
X9356894
- Property type:
- Triplex
- Style:
- 2-Storey
- Taxes:
- $2,893
- Possession:
- Flexible
- Lot Front:
- 35.0 Feet
- Lot Depth:
- 95.0 Feet
- Basement:
- Part Bsmt | Sep Entrance
- Driveway Pkg:
- 4
- Heat:
- Electric | Baseboard
Description
49 Paddington Ave, , London, Ontario is a Triplex property in London and in the South E community in the N6J 2S5 postal code
This fully renovated seperately metered Three Unit Income Property in Manor Park works as an ideal seemless compliment to exisiting porfolios, as a solid first aquisition in the real estate investing world, and/or as a great oppurtunity to occupy one unit and generate income on the other units. The property just completed and passed fire and electrical safety inspections in July of 2024 helping reinforce this as a safe investment and/or new location to call home. As of December 1st the split level three bedroom and upper one bedroom unit will be vacant with sale (unless requested to be leased by buyer; negotiable to be vacant sooner). This property has been creatively designed to keep all the living space above grade; with all units having been recently renovated and all major elements being replaced or upgraded; with bonus storage units created and rented below grade providing an additional income stream. This property provides very close access to the high energy major transportaion routes for public transit and is situated near to shopping centres. The area also offers great naturscapes to explore including Eustace Park and The Coves protected area. This fully tenanted property offers an annual income of at over $50,000 after expenses this property is a prime candidate for a cash flowing asset projected at a 7%+ Cap Rate at asking. As noted the newly renovated basement space allows for additional income with storage units with the space freshly painted, spray foamed and the cielings drywalled. The shared basement space also features a laundry room with two washers and two dryers for usage between the tenants. Basement additionally waterproofed, insulated and ceiling / walls newly drywalled. Between the previous professional home inspection, the electrical safety authority inspection, and the fire inspection; it is of upmost importance to the current owner than the new buyer inherites a safe property. Detailed financials are also available and can be provided..
Extras
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History
Sign in for full accessList Date | End Date | List Price | End Price | Status | MLS # |
1999-02 | 2024-02 | $98,900 | $96,000 | Sld | X7684675 |
2024-05 | 2024-08 | $749,000 | $739,000 | Ter | X8363606 |
2024-08 | 2024-09 | $727,000 | $727,000 | Ter | X9238576 |
2024-09 | 2024-10 | $699,000 | $680,000 | Pc | X9356894 |
2024-02 | $777,777 | $727,727 | X7807639 |
Statistics: TRREB Market Watch - JUNE 2023
Municipality activity All Property Types
Sale activity
London :
Estimated running costs for 49 Paddington Ave
Based on available 3rd party data
Approximate costs per month
- Mortgage
- $2305 p/m
- Energy
- from $75 p/m
- Water
- from $40 p/m
- Home insurance
- from $20 p/m
- Taxes
- $241 p/m
- Maintenance
- $0 p/m
Amenities:
Features:
Payment calculator
-
Principal and Interest
2305 /mo
-
Property Taxes
$241 /mo
-
Yearly Condo Fees
$0
* These results are not provided by offerHunt.ca and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances.