376 BURWELL STREET

About this home

Presenting an opportunity to acquire a 7-unit multifamily property package in the heart of downtown London. This offering includes both a triplex and a fourplex, providing immediate cash flow with long-term value-add potential. The unit mix consists of four 2-bedroom units and three 1-bedroom units, appealing to a broad tenant base. Four units have been fully renovated with modern upgrades, delivering strong rental appeal and reduced near-term maintenance, while the remaining three units offer clear upside through cosmetic and functional improvements. Currently operating at a 6.9% cap rate, the property provides solid in-place returns with additional income growth potential as rents are brought to market and value-add improvements are completed. Shared on-site laundry adds tenant convenience while generating supplemental income. Ideally located just steps from London's downtown core, tenants benefit from close proximity to transit, shopping, dining, employment hubs, and post-secondary institutions-factors that support consistent rental demand and low vacancy. For investors seeking a balance of stability and upside, this asset offers a compelling opportunity to acquire a partially renovated multifamily property with multiple pathways to grow both equity and cash flow at a STEAL of a price! (id:66966)

Details

Type

Multi-family

Basement

Unfinished, N/A

Garage

Garage

Property tax

$8,332

Neighbourhood

East G

Municipality

London East (East G)

Interior

Bedrooms

11 above ground

Fireplace

No

Appliances

Refrigerator, Stove, Water Heater

Heating, cooling and services

Heating

Baseboard heaters, Forced air, Electric, Natural gas

Water and sewer

Sanitary sewer

Building and exterior

Foundation

Brick

Outdoor

Brick

Parking

Total parking

2

Driveway and parking

No Garage

Location

Location is approximate. See nearby homes on the map