London, ON N5Y2M5 894 ADELAIDE STREET N
$2,475,000
18 more
Presented By: SUTTON GROUP - SELECT REALTY
Home Details
WITH $750,000 DOWN THE SELLER WILL HOLD A FIRST MORTGAGE FOR THE BALANCE OF THE PURCHASE PRICE AT 3.9% INTEREST ONLY. Excellent apartment building on the edge of old north. 6-unit building consisting of 5-2-bedroom apartments and a one bedroom. Completley renovated to drywall, floor, and ceiling. Luxury contemporary kitchens with quartz countertops, and 3 stainless steel appliances. Luxury baths with full tubs and vanities with quartz countertops. High end light fixtures, tile and flooring throughout suites and common areas. Electric fireplaces in all units. Controlled entry with video doorbells. New electrical, plumbing, and high efficiency boiler system. New high Efficiency windows throughout. New sidewalks and asphalt parking lot and driveway. Annual income of approx. $130,160. ATTENTION BUILDERS. site plan and building permit approved for a new adjacent apartment building that you can build consisting of 9 two-bedroom units with in suite laundry and Juliet balconies. The building will be 3 floors, with 3 units per floor, raised 2 storey building with total sq. Ft of approx. 6000. Build the building and have approx. $11,000 in income coming in each month while you build it. RENTS ARE ALL PLUS HYDRO ON EXISTING BUILDING. FINAL PROJECTED COMPLETION VALUE OF $5,502,560. Acquisition cost ($2,475,000). Plus, construction cost ($1,500,000) $3,975,000 NET PROFIT ($1,527,560.) **** EXTRAS **** Income and expenses information available in documents tab (id:7434)
Presented By: SUTTON GROUP - SELECT REALTY
Interior Features for 894 ADELAIDE STREET N
Other Interior Features
Basement DevelopmentFinished
Basement TypeFull (Finished)
Building Fireplace PresentFalse
Building Heating FuelNatural gas
Building Heating TypeBaseboard heaters
General for 894 ADELAIDE STREET N
AmenitiesHospital
Building AppliancesDishwasher, Dryer, Refrigerator, Stove, Washer
Building TypeOther
Building.StoriesTotal3
CommunityNameEast C
Foundation TypeBlock
Location DescriptionBetween Grosvenor and Cheapside
Parking Space Total8
Property TypeMulti-family
Zoning DescriptionR2-2
Exterior for 894 ADELAIDE STREET N
Exterior FinishBrick, Concrete
Land Amenities Hospital
SewerSanitary sewer
Additional Details
Paul Dojcinovic
TEAM LEADER, REALTOR® at eXp Realty