1020 Eagle Drive London South, Ontario N5Z 3H5

$929,900

Purpose-built all brick fourplex located on a quiet residential street in Glen Cairn Woods municipally known as 1018-1020Eagle Drive. Four two bedroom units have been remodeled with newer kitchens and bathrooms, laminate flooring and replacement windows in the past ten years. Roof shingles replaced in 2017. Lower unit at 1018 was rented at $924.00 and is currently vacant. Market rent would be in the $1,500-$1,600 range. Other rents-1018 upper at $1,000, 1020 lower at $969 and1020 upper at $1,250. Tenants also pay for separately metered electricity. Gross annual rent of $57,014.00 including coin laundry and net operating income of $41,526.62. Building has been very well maintained over the last 35 years by the current owner. Also, potential to sever the lot into three single family building lots of 40 feet each subject to municipal approval. Copy of rent roll including operating expenses, City Rental License and Surveyor's Certificate available upon request. Please allow fora 48 hour irrevocable. (id:38414)

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