16
See all 16 photos
$599,900
Est. payment /mo
4 Beds
4 Baths
2,000 SqFt
Active
46 STANLEY STREET London South (south F), ON N6C1B1
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000 - 2500
Square Footage 2,000 sqft
Price per Sqft $299
Subdivision South F
MLS® Listing ID X12963106
Bedrooms 4
Property Description
Positioned on the edge of downtown, this is a prime opportunity to acquire a solid income-producing asset. With strong rental demand and proximity to the core, this is the type of property that supports both stable occupancy and long-term growth. The building consists of four 1-bedroom units, three of which have been recently renovated - allowing you to step into improved rents and reduced capital expenditure from day one. Two units are currently vacant, offering immediate flexibility: place your own tenants at market rents or take the opportunity to further upgrade and push value. Current gross monthly income is approximately $5,052, comprised of in-place rents and projected rents for the vacant units, with a clear path to ~$5,680 based on market rents with value added. At that level, the property is projected to operate around a 7.0% cap rate, with upside closer to the 8.2% range as rents are stabilized and value is added. Operating expenses are well-defined at roughly $1,923/month, resulting in a current NOI of ~$3,128/month and a projected NOI of ~$3,750+/month once rents are optimized. Depending on financing, this deal shows estimated monthly cash flow in the range of ~$500-$750 with current/projected rents, depending on execution. A major differentiator here is the ample on-site parking-something that's increasingly difficult to find this close to downtown and a key factor in tenant retention. Whether you're looking for a performing asset with immediate income or a property where you can still create value through leasing and light improvements, 46 Stanley offers a clean, straightforward path to both. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling None
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 4
Garage No
Private Pool No
Building
Story 2.5
Listed by PRIME REAL ESTATE BROKERAGE