$580,000

$599,000For salePrice drop↓ $19,000 (3%)

117 Empress Avenue, London North (North N) - Single Family for Sale

117 Empress Avenue, London North (North N), Ontario, N6H1N1

5 beds2 baths5 parking1,300 ft²61 × 112 ft (6,854 sq ft) lot sizeListed 28 days ago

Overview

This 5-bedroom, 2-bathroom home in London North is for sale offering roughly 1,300 sq ft of space. Its $580,000 asking price sits right in line with the $574,900 median in London North. It has been on the market 28 days, fresher than the London North average of 76 days.

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Description

Here's the investment opportunity you've been waiting for! This fully rented 4+1 property offers immediate rental income and an outstanding location just minutes from Western University, shopping, restaurants, transit, and everyday conveniences. Currently generating approximately $45,300 in gross annual rental income, this turnkey property is ready for its next investor. Situated in the highly desirable Oxford Street East and Wharncliffe Road corridor, the property is perfectly positioned in an area with strong and consistent rental demand. The combination of location, existing rental income, and future upside makes this a compelling addition to any investment portfolio. As tenant turnover occurs, there may be an opportunity to improve rental income by adjusting rents toward current market levels, subject to applicable regulations. (id:66096)

Property Details

MLS®: X13871506
Property Type: Single Family
Zoning: R2-2
Bedrooms: 5
Beds (above / below): 4 above · 1 below
Bathrooms: 2
Parking: 5
Interior Size: 1,300 ft²
Lot Size: 61 × 112 ft (6,854 sq ft)
Frontage: 61 ft
Storeys: 1
Style: Bungalow
Basement: Finished, Apartment in basement, N/A, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Detached Garage, Garage
Ownership: Freehold

Rooms

Main level

Living room: 4.5 x 3.3 meters
Kitchen: 3.04 x 3.2 meters
Bedroom: 3.96 x 3.02 meters
Bedroom 2: 3.1 x 3.5 meters
Bedroom 3: 3.2 x 3.6 meters
Bedroom 4: 3 x 3.2 meters

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer
Foundation: Block
Exterior: Aluminum siding
Lot Features: Flat site

Services

Water: Municipal water
Sewer: Sanitary sewer
Utilities: Sewer, Electricity, Cable

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

28d

London North (North N) listings, avg age

76d

Price / ft²

$446

List price

$580K

Haho

This 5-bed single family in London North (North N) has been listed for 28 days, which is 48 days fresher than the city average of 76. Act while there is still low competition.

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Listed by CENTURY 21 FIRST CANADIAN CORP · KAMRAN KOORAKANI

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N6H)

This home lists at $580,000, about 8.2× the local median household income of $71,000.

Carrying it typically needs a household income of about $113,294 (20% down, 25-yr amortization, stress-tested) — roughly 60% above the area median.

Median household income: $71,000
Population: 44,215
Median age: 38.8
Owner / renter: 46% / 54%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA N6H)

$580,000· $446/ft²

For sale

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Full Cost Breakdown

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Down Payment5.69% · $33,000

Min 5.69%50%

Mortgage payment$3,033/mo

↳ CMHC premium ($21,880 capitalized)

Property tax (est.)$359/mo

Total monthly$3,392

Cash Needed to Close

Down payment (5.69%)$33,000

Land transfer tax$8,075

Est. closing costs$4,240

Total cash needed$45,315

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