477 Elizabeth Street London East, Ontario N5W 3R9

$699,000

Incredible opportunity to own TWO fully updated properties with three self-contained units in a neighborhood thats experiencing a strong revitalization. Legal triplex just steps from the Western Fair Farmers Market, the historic Palace Theatre, Aeolian Hall, and the exciting transformation of 100 Kelloggs Lane, home to the brand-new Hard Rock Hotel. This area is turning the corner, attracting new development, culture, and community investment. This offering includes 663 Dufferin Avenue, a fully renovated two-bedroom unit currently rented for $1,800 per month, and 477 Elizabeth Street, which features both a main floor two-bedroom unit ( rented at $1,800/month, will be vacant June 1) and an upper bachelor unit at 477A, currently rented for $1,150/month to a long-term, respectful tenant. Excellent cap rate! Extensive updates have been completed over the past decade, including brand-new energy-efficient windows throughout both properties, new soffits, fascia, eavestroughs with gutter guards, and new porches at 477 Elizabeth. Interior renovations include updated flooring, modern light fixtures, faucets, sinks, toilets, and showers, with professionally refinished kitchen and bathroom cabinetry. Both the 477 Elizabeth main floor and 663 Dufferin units feature stainless steel appliances, while the 477A bachelor has a new kitchen and electric water heater. A new gas furnace has been installed in the 477 main floor unit, and all units have updated receptacles and switches. With two dependable tenants in place and a freshly vacated unit offering flexibility for new leasing or owner occupancy, this is a turnkey investment with excellent income potential in a transitioning neighborhood with strong long-term upside. (id:38414)

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