901 Victoria St N Kitchener, ON

231 Greenwood Avenue, London South, Ontario N6J 3G5 (29573156)

231 Greenwood Avenue London South, Ontario N6J 3G5

14 Bedroom 6 Bathroom 2,500 - 3,000 ft2
Central Air Conditioning Heat Pump

$1,799,000

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:50976)

Property Details

MLS® Number X12971596
Property Type Multi-family
Community Name South D
Features Flat Site, Lane
Parking Space Total 6

Building

Bathroom Total 6
Bedrooms Above Ground 14
Bedrooms Total 14
Appliances Water Meter
Basement Development Finished
Basement Type N/a (finished)
Cooling Type Central Air Conditioning
Exterior Finish Brick
Foundation Type Poured Concrete
Heating Fuel Electric
Heating Type Heat Pump
Size Interior 2,500 - 3,000 Ft2
Type Other
Utility Water Municipal Water

Parking

No Garage
Shared

Land

Acreage No
Sewer Sanitary Sewer
Size Depth 198 Ft
Size Frontage 66 Ft
Size Irregular 66 X 198 Ft
Size Total Text 66 X 198 Ft

Utilities

Cable Installed
Electricity Installed
Sewer Installed

https://www.realtor.ca/real-estate/29573156/231-greenwood-avenue-london-south-south-d-south-d

Contact Us

Contact us for more information

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Trevor Tyson
Salesperson

(519) 473-9992
Prime Real Estate Brokerage

(519) 473-9992

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April 08 2026 05:52:37

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Contact

Toll Free: 800-817-3018
Phone: 519-746-5136

Email

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Address

Re/Max Twin City Realty Inc.
901 Victoria St N
Kitchener, ON

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.