About 1071.5 Florence Street
Exceptional Investment Opportunity - Legal Triplex with Strong Cash Flow & Future Upside! Own a fully legal two-storey triplex on a rare 37.09 ft x 168.63 ft lot in one of London's rapidly growing neighbourhoods. Certified by the City of London, this income-producing property offers immediate cash flow, low operating costs, and excellent long-term appreciation potential. Currently generating $3,289/month from the main floor ($1,689) and upper unit ($1,600 including parking), with only the basement unit remaining to be leased at $1,350/month, bringing the projected gross rental income to approximately $4,639/month ($55,668 annually). Property taxes are only $2,716/year, making this an attractive opportunity for investors. The impressive 168-foot-deep lot provides added privacy and future development potential, subject to municipal approvals. Ideally located with a bus stop at the doorstep and within walking distance to the Hard Rock Hotel, casino, restaurants, shopping, and entertainment district, this high-demand location continues to attract quality tenants. Major updates include a waterproofing membrane around the foundation (2021), interior drainage system, exterior painting, soundproofing between the main and upper floors, and a renovated main-floor kitchen (2022).Additional features include separate entrances, separate hydro meters, four parking spaces, coin-operated laundry for extra income, and a private tree-lined backyard with a paved patio and fire pit. Whether expanding your portfolio or purchasing your first investment property, this well-maintained legal triplex offers strong income, excellent upside, valuable updates, and outstanding long-term investment potential. (id:6289)
More Info on this East M Triplex MLS® listing
1071.5 Florence Street is a triplex listing for sale in London East (East M). The MLS® number is X13589054. It features 4 bedrooms, 3 bathrooms. It's currently listed for $549,900. For more details on MLS® X13589054, including price history, disclosures, or to schedule a private showing, fill out the form on this page. This triplex listing in East M is available now!
Selling your East M Triplex property?
Have a similar home to 1071.5 Florence Street? If you’re thinking about selling your East M triplex property, then we should chat. Fill in the form on this page, or click request info, and we’ll get right back to you, and we can chat about selling your London East (East M) property.
