equity – expect to invest in upgrades throughout to unlock its full potential. The lower unit features a kitchen with separate entrance and shared laundry configuration, providing immediate rental income while you execute your value-add strategy. What makes this property particularly exciting is the potential to build a detached Additional Dwelling Unit (ADU) in the rear yard under London’s new zoning policies. With proper lot dimensions and coverage calculations, you could potentially add a brand-new 600-800 sq ft standalone dwelling unit behind the existing house, dramatically increasing the property’s income potential and overall value. This strategy allows you to maximize your investment by creating a modern, secondary dwelling that commands premium rents while maintaining the existing house. Imagine the possibilities: renovate the main house, optimize the current suite configuration, and add a brand-new detached ADU – creating a true income-generating powerhouse. Being within walking/biking distance to Fanshawe College ensures consistent rental demand year after year, making this an ideal hold-and-build investment. This is a build-your-wealth opportunity for hands-on investors who understand the value of forced appreciation and aren’t afraid to roll up their sleeves. Perfect for contractors looking to leverage their skills or savvy investors with renovation connections ready to unlock this property’s full potential. (id:62650)