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$649,900
London East
153 Hale Street, London East (East O), Ontario, N5W1E5
This multi-family property in London East is for sale offering roughly 2,750 sq ft of space.
$4,804/month in current rent, two substantially updated units, a City of London rental licence, separate hydro, and a 40 x 415 ft lot. 153 Hale Street delivers income from day one, with a property profile that gives investors plenty to consider for the future. Zoned R1-6, this tenanted duplex features two self-contained units, each with in-unit laundry and access to its own half of the detached garage. The front unit offers two bedrooms upstairs plus a third main-floor bedroom, along with a partially finished basement offering plenty of additional space. The rear unit has two upper-level bedrooms, a main-floor den or office, and generous basement space. Both units have been extensively updated, including newer kitchens and bathrooms. For buyers looking to maximize the property over time, the additional basement spaces are well worth considering for expanded living or other uses. Then there's the lot. At 40 x 415 ft, its exceptional depth adds another dimension to the investment. Even more interesting, the neighbouring property, which has a similarly deep lot, is currently also available for sale. For investors or developers taking a longer-term view, the combination presents an interesting opportunity to explore future redevelopment potential. Both units are currently tenanted with total current rent of $4,804 per month as of September 1. Collect the income today while you investigate what this property could offer tomorrow. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 64 days on market, against an average age of 48 days across the listings currently for sale in this city
This 6-bed multi-family in London East (East O) is available now. Want me to connect you with the agent or keep you posted on any price updates?
Approximate location — exact address confirmed upon showing
This home lists at $649,900, about 10.1× the local median household income of $64,500.
Carrying it typically needs a household income of about $126,948 (20% down, 25-yr amortization, stress-tested) — roughly 97% above the area median.
Source: Statistics Canada, 2021 Census (FSA N5W)
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Loading rates, 30-yr amortization
Cash Needed to Close
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