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$1,799,000
Ontario,London South (South D)
For Sale Active
231 GREENWOOD AVENUE, London South (South D), Ontario N6J3G5
  • 14
  • 6
  • 2500 - 3000Square Feet
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Basic Details
Description

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 8×2 development approximately 75% complete.” Over $400,000 value upside potential based on developed property income. (id:62650)

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Basic Details
  • Property Type: Residential Income
  • Listing Type: For Sale
  • Listing ID: X12971596
  • Price: $1,799,000
  • Bedrooms: 14
  • Bathrooms: 6
  • Square Footage: 2500 - 3000 Sqft
  • Status: Active
  • Property Sub Type: Multi-family
  • Office Key: 276302
Features & Appliances
Features
  • Heating System: Heat Pump, Electric
  • 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' 23.4''
  • Latitude: N42° 58' 11.2''
Additional Information
  • Water Source:
  • Foundation Details:
  • Lot Features:
  • Lot Size Dimensions: 66 x 198 FT
Financial
  • Tax Annual Amount: 6136
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Listing updated: 2026-04-15 13:20:40
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Listing Information
  • List Agent Key: 1386667
  • List Office Key: 276302
  • Modification Timestamp: 2026-04-13T16:41:01Z
  • Originating System Name: London and St. Thomas Association of REALTORS®
  • Status Change Timestamp: 2026-04-13T16:32:54Z
Powered by REALTOR.ca
Listing updated: 2026-04-15 13:20:40
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