Active

246 Wharncliffe Rd S

London Ontario, N6J 2L4

C$985,000


Active

Commercial

This 6-unit multifamily property, located near Downtown, Wortley Village, and a major bus route, offers an excellent investment opportunity with significant value-add potential. With 2 of the 6 units left vacant on purpose, the new owner can set new rents and maximize returns. The building includes a mix of unit types: 1-2 bedroom, 3-1 bedroom, and 2 bachelor units. Recent renovations include a stucco exterior (2021), roof with spray foam silicone system (2021), and full insulation of exterior walls and ceilings (2021). All windows and doors were replaced in 2021, reducing future maintenance costs. Most units have been updated with new bathrooms. The property features 2 upgraded 200-amp electrical panels, a high-efficiency forced air gas furnace, and low utility costs. A workshop/storage building at the rear provides additional income potential. Zoned AC2 (1), this property is well-positioned for future growth and rental demand. Projected cash flow of $75,600 per year, with the opportunity to increase returns by filling vacant units at market rates. A solid investment for those seeking to add a high-potential multifamily asset to their portfolio.

X11970286

MLS ID

March 6, 2025

Updated

Interior Features

Fireplace

No


Cooling

Yes


Cooling Description

Part


Heating

Yes


Heating Description

Gas Forced Air Open

Exterior/Building Features

Lot Size

0.05 Acres

Other Property Details

Area Name

South F


Taxes

$2,226


Tax Frequency

Annually


Garage

No


Parking

None


Parking Total

0


View

No


County

Ontario


Municipality

London


Water Source

Municipal


Pool

No


Utilities

Y


Zoning

AC2

 

Courtesy of Listed by , ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES,

Based on information from the Toronto Regional Real Estate Board. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. Information is deemed reliable but is not guaranteed accurate.

©2025 Toronto Real Estate Board. All rights reserved. 

Data last updated 11:13 AM UTC, 3/6/2025

 

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