334 Queens Avenue, London East (East F), Ontario, N6B1X4




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$699,000
London East
This 20-bedroom, 3-bathroom home in London East is for sale offering roughly 2,750 sq ft of space. It has been on the market 35 days, fresher than the London East average of 73 days.
Rare turn-key business opportunity located at the corner of Queens and Waterloo Street. This is a licensed "Informal Residential Car e Facility" known as Thomcare that has been operating since 1997 and the owner is retiring. This 2-storey red brick residence consists of 10 bedrooms offering single and double occupancy for 16 beds, each paying $1,050.00 per month. Gross annual income of $201,600.00 with net operating income of 75,231.69. It also includes a full kitchen, 3 bathrooms and two lounging areas. Fully managed with onsite staff who provide meals and a laundry service. A summary of income and operating expenses, business license and boulevard parking agreement available to interested parties. Notice of 24 hours is required for viewings. (id:66096)
Features and services as supplied by the listing brokerage.
Extended: 35 days on market, against an average age of 73 days across the listings currently for sale in this city
This 20-bed single family in London East (East F) has been listed for 35 days, which is 38 days fresher than the city average of 73. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $699,000, about 14.2× the local median household income of $49,200.
Carrying it typically needs a household income of about $136,539 (20% down, 25-yr amortization, stress-tested) — roughly 178% above the area median.
Source: Statistics Canada, 2021 Census (FSA N6B)
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Loading rates, 30-yr amortization
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