Presenting an opportunity to acquire a 7-unit multifamily property package in the heart of downtown London. This offering includes both a triplex and a fourplex, providing immediate cash flow with long-term value-add potential. The unit mix consists of four 2-bedroom units and three 1-bedroom units, appealing to a broad tenant base. Four units have been fully renovated with modern upgrades, delivering strong rental appeal and reduced near-term maintenance, while the remaining three units offer clear upside through cosmetic and functional improvements. Currently operating at a 6.9% cap rate, the property provides solid in-place returns with additional income growth potential as rents are brought to market and value-add improvements are completed. Shared on-site laundry adds tenant convenience while generating supplemental income. Ideally located just steps from London's downtown core, tenants benefit from close proximity to transit, shopping, dining, employment hubs, and post-secondary institutions-factors that support consistent rental demand and low vacancy. For investors seeking a balance of stability and upside, this asset offers a compelling opportunity to acquire a partially renovated multifamily property with multiple pathways to grow both equity and cash flow at a STEAL of a price! (id:61594)
| MLS® Number | X12665316 |
| Property Type | Multi-family |
| Community Name | East G |
| Amenities Near By | Hospital, Place Of Worship, Public Transit |
| Equipment Type | Water Heater, Dryer(s), Washer(s) |
| Features | Flat Site |
| Parking Space Total | 2 |
| Rental Equipment Type | Water Heater, Dryer(s), Washer(s) |
| Bathroom Total | 7 |
| Bedrooms Above Ground | 11 |
| Bedrooms Total | 11 |
| Appliances | Water Heater, Stove, Refrigerator |
| Basement Development | Unfinished |
| Basement Type | N/a (unfinished) |
| Cooling Type | None |
| Exterior Finish | Brick |
| Foundation Type | Brick |
| Heating Fuel | Electric, Natural Gas |
| Heating Type | Baseboard Heaters, Forced Air, Not Known |
| Stories Total | 2 |
| Size Interior | 3,500 - 5,000 Ft2 |
| Type | Other |
| Utility Water | Municipal Water |
| No Garage |
| Acreage | No |
| Land Amenities | Hospital, Place Of Worship, Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 77 Ft ,4 In |
| Size Frontage | 56 Ft |
| Size Irregular | 56 X 77.4 Ft |
| Size Total Text | 56 X 77.4 Ft |
| Zoning Description | Or |
https://www.realtor.ca/real-estate/29219124/376-burwell-street-london-east-east-g-east-g
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