186 Clarence Street, London East (East K), Ontario, N6B2J7




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$399,900
London East
This multi-family property in London East is for sale offering roughly 1,750 sq ft of space. It has been on the market 2 days, fresher than the London East average of 86 days.
EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT AND RENT THE OTHERS! Located in London's historic SoHo neighbourhood, close to downtown and the Thames River, this triplex offers an opportunity to invest in an evolving community benefiting from new residential development and revitalization of the former Victoria Hospital lands. Featuring two one-bedroom units and one two-bedroom unit, 186 Clarence Street offers flexibility for both owner-occupiers and investors. The vacant front one-bedroom provides the opportunity to move in and enjoy rental income from the other two units as a mortgage helper, or select your own tenant and rent all three. The two occupied units currently generate combined monthly rent of $1,957.37. With estimated rent of $1,100-$1,200 per month for the vacant unit, projected gross annual rental income is approximately $36,688-$37,888 when fully rented. Annual expenses for hydro, gas, property taxes and insurance total approximately $9,347. A roof replaced approximately three years ago adds to the appeal of this versatile SoHo property! (id:66096)
Features and services as supplied by the listing brokerage.
Just listed: 2 days on market, against an average age of 86 days across the listings currently for sale in this city
This 4-bed multi-family in London East (East K) has been listed for 2 days, which is 84 days fresher than the city average of 86. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $399,900, about 8.1× the local median household income of $49,200.
Carrying it typically needs a household income of about $78,114 (20% down, 25-yr amortization, stress-tested) — roughly 59% above the area median.
Source: Statistics Canada, 2021 Census (FSA N6B)
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Loading rates, 30-yr amortization
Cash Needed to Close
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