Active
246 Wharncliffe Rd S
London Ontario, N6J 2L4
C$985,000
Active
7 Beds
6 Baths
Multi-family
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. (39879369)
X11970467
MLSⓇ ID
March 6, 2025
Updated
Interior Features
Total Stories
2
Bedrooms
7
Total Bathrooms
6
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Forced Air, Gas
Exterior/Building Features
Lot Size
0.05 Acres
Sewer
Sewers
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
Pool Features
None
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.
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Data last updated 11:13 AM UTC, 3/6/2025