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$1,999,900
Ontario,London South (South D)
For Sale Active
231 GREENWOOD AVENUE, London South (South D), Ontario N6J3G5
  • 2500 - 3000Square Feet
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Basic Details
Description

Purpose built four plex with 2 bedrooms in each unit with with strong valued opportunity with City of London approval to covert into an 8 plex with four 2 bedrooms on the main level and four 2 bedroom lower units. All units have been renovated from top to bottom. Presently 2 units have been converted into 2 bedroom upper and

2 bedroom lower units. The other 2 units are 2+1 bedrooms with a finished bathroom and lower levels roughed in for a 2nd bedroom and kitchen. Strong value-add opportunity with upside already approved. Conversion will increase NOI by over $30,000 annually and lift valuation by approximately $432,000. Present Gross annual Income $132,000 net $115,209.03 Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 net $146,119.03 at 6.5 cap bring valuation to $2,248,000. Over $400,000 value upside potential based on developed property income. Asking price premium includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings, 8×2 development approximately 75% complete.” (id:62650)

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Basic Details
  • Property Type: Residential Income
  • Listing Type: For Sale
  • Listing ID: X12467479
  • Price: $1,999,900
  • Square Footage: 2500 - 3000 Sqft
  • Status: Active
  • Office Name: PRIME REAL ESTATE BROKERAGE
  • Property Attached Yn: 1
  • Property Sub Type: Multi-family
  • Office Key: 276302
Features & Appliances
Features
  • Heating System: Heat Pump, Electric, Natural gas, Not known
  • Cooling System: Central air conditioning
  • Basement: Finished, N/A
  • Parking: No Garage, Shared
  • Exterior Features: Brick
  • Sewer: Sanitary sewer
  • Utilities: Electricity, Sewer, Cable
Address Map
  • Location: CA, Ontario, London South (South D), N6J3G5
  • Street: Greenwood
  • Street Number: 231
  • Street Suffix: Avenue
  • Longitude: W82° 43' 23.5''
  • Latitude: N42° 58' 11.3''
Additional Information
  • Water Source:
  • Foundation Details:
  • Lot Features:
  • Lot Size Dimensions: 66 x 198 FT
Financial
  • Tax Annual Amount: 6135.6
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Listing updated: 2026-01-22 11:55:42
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Listing Information
  • List Agent Key: 1386667
  • List Office Key: 276302
  • Modification Timestamp: 2026-01-16T17:35:20Z
  • Originating System Name: London and St. Thomas Association of REALTORS®
  • Status Change Timestamp: 2026-01-16T17:21:09Z
Powered by REALTOR.ca
Listing updated: 2026-01-22 11:55:42
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