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1042 Brough Street London East, Ontario N6A 3N4

9 Bedroom 3 Bathroom 2000 - 2500 sqft
Bungalow Central Air Conditioning Forced Air

$979,900

Investors! Rare opportunity to own a licensed duplex situated in A+ location directly across from Kings College/UWO. This property is currently leased out for $6,000/month and is perfect for investors looking for a turnkey property with strong cash flow. The current leases are from May 1, 2025 to April 30, 2026 and generate $72,000/year in rental revenue,. This deceivingly large property has always been rented with ease based on the location and bedroom sizes and has never seen a vacancy since the owner has taken possession. The upper unit offers 5 bedrooms leased at $3,400/month (There are 5 bedrooms but only 4 rented). The lower level unit features 4 bedrooms leased at $2,600/month. Each unit has in-suite laundry. Owner pays heat ($1,280/year) and hydro ($3,501/year). There is strong potential to increase the rents to $1,000/room once the leases turnover next year based on current market rents and proximity to Kings College, adding a lot of value to your investment. Normalized revenue based on market rents and 5 bedrooms on main floor would be $108,000/year, yielding an impressive cap rate of 9.5% at the current list price - See attachment for cap rate calculations based on current and potential market rents. Recent upgrades include all new flooring in lower level, pot lights throughout, sprinkler system, and fresh paint throughout. Furnace was replaced in 2014, A/C 2012, and Roof in 2011. This is an exceptional investment in a high-demand location with proven income and long-term value growth. (id:38414)

Property Details

MLS® Number X12168364
Property Type Multi-family
Community Name East B
AmenitiesNearBy Park, Public Transit, Schools
EquipmentType Water Heater
Features In-law Suite
ParkingSpaceTotal 4
RentalEquipmentType Water Heater

Building

BathroomTotal 3
BedroomsAboveGround 5
BedroomsBelowGround 4
BedroomsTotal 9
Age 51 To 99 Years
Appliances Dishwasher, Dryer, Two Stoves, Two Washers, Two Refrigerators
ArchitecturalStyle Bungalow
BasementDevelopment Finished
BasementType Full (finished)
CoolingType Central Air Conditioning
ExteriorFinish Aluminum Siding, Brick
FoundationType Poured Concrete
HeatingFuel Natural Gas
HeatingType Forced Air
StoriesTotal 1
SizeInterior 2000 - 2500 Sqft
Type Duplex
UtilityWater Municipal Water

Parking

No Garage

Land

Acreage No
LandAmenities Park, Public Transit, Schools
Sewer Sanitary Sewer
SizeDepth 125 Ft
SizeFrontage 51 Ft
SizeIrregular 51 X 125 Ft ; 51 X 125
SizeTotalText 51 X 125 Ft ; 51 X 125
ZoningDescription R1-6(1)

Rooms

Level Type Dimensions
Lower Level Recreational, Games Room 5.1 m x 5.83 m
Lower Level Kitchen 3.57 m x 5.1 m
Lower Level Primary Bedroom 3.41 m x 3.9 m
Lower Level Bedroom 2 4.06 m x 2.76 m
Lower Level Bedroom 3 4.3 m x 4.78 m
Lower Level Bedroom 4 3.86 m x 2.86 m
Lower Level Bathroom 2.02 m x 2.66 m
Main Level Bathroom 2.57 m x 1.38 m
Main Level Bathroom 3.44 m x 2.28 m
Main Level Living Room 4.77 m x 4.37 m
Main Level Dining Room 4.77 m x 2.13 m
Main Level Kitchen 3.73 m x 4.49 m
Main Level Primary Bedroom 3.43 m x 4.71 m
Main Level Bedroom 2 3.74 m x 3.27 m
Main Level Bedroom 3 3.74 m x 3.29 m
Main Level Bedroom 4 3.76 m x 3.77 m
Main Level Bedroom 5 3.76 m x 3.21 m
Main Level Laundry Room 3.73 m x 2.36 m

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May 23 2025 05:25:09

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