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231 GREENWOOD AVENUE, London South (South D)
2026-04-08
Quick Summary
- Location
- 231 GREENWOOD AVENUE, London South (South D), Ontario N6J3G5
- Price
- $1,799,000
- Status:
- For Sale
- Property Type:
- Multi-family
- Area:
- 2500 - 3000 sqft
- Bedrooms:
- 14
- Bathrooms:
- 6
- Garages:
- 6
MLS®#X12971596
Property Description
Purpose-built fourplex now converted to a 6-unit income property, with City-approved plans for an 8-unit build-out. All units are FULLY RENOVATED TOP TO BOTTOM, offering immediate cash flow with significant upside. Presently the 2 bedroom upper rented at $1800p/m plus utilities and two 2 bedroom lower units rented at $1600p/m plus utilities. The other two units are 2+1 bedrooms with a finished basements and lower levels roughed in for a 2nd bedroom and kitchen at $2100p/m plus utilities.. Water and Taxes are $11789 for 2025..Present Gross annual Income $132,000. Net income $114,919.83 representing a cap rate of 6.4...Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 with a potential net income of $146,119.03 representing a cap rate 8.2. Asking price includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings in place with 8x2 development approximately 75% complete." Over $400,000 value upside potential based on developed property income. (id:32467)
Property Features
Building
- Appliances: Water meter
- Basement Development: Finished
- Basement Type: N/A (Finished)
- Cooling Type: Central air conditioning
- Exterior Finish: Brick
- Fireplace: No
- Interior Size: 2500 - 3000 sqft
- Building Type: Other
- Utility Water: Municipal water
Features
- Feature: Flat site, Lane
Land
- Land Size: 66 x 198 FT
- Sewer: Sanitary sewer
Information entered by PRIME REAL ESTATE BROKERAGE
Listing information last updated on: 2026-05-24 23:12:59
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How much could you save in commission selling with One Percent Realty?
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$500,000
Your One Percent Realty Commission savings†
$500,000
†
Savings calculated using One Percent Realty's posted commission rates compared to another agent charging
5% + HST . Not all agents charge the same.
One Percent Realty's top FAQs
We charge a total of $7,950 for residential properties under $400,000. For residential properties $400,000-$900,000 we charge $9,950. For residential properties over $900,000 we charge 1% of the sale price plus $950. Plus Applicable taxes, of course. We also offer the flexibility to offer more commission to the buyer's agent, if you want to. It is as simple as that! For commercial properties, farms, or development properties please contact a One Percent agent directly or fill out the market evaluation form on the bottom right of our website pages and a One Percent agent will get back to you to discuss the particulars.
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