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1042 Brough Street.
London East (east B), ON  Property is SOLD

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Investors! Rare opportunity to own a licensed duplex situated in A+ location directly across from Kings College/UWO. This property is currently leased out for $6,000/month and is perfect for investors looking for a turnkey property with strong cash flow. The current leases are from May 1, 2025 to April 30, 2026 and generate $72,000/year in rental revenue,. This deceivingly large property has always been rented with ease based on the location and bedroom sizes and has never seen a vacancy since the owner has taken possession. The upper unit offers 5 bedrooms leased at $3,400/month (There are 5 bedrooms but only 4 rented). The lower level unit features 4 bedrooms leased at $2,600/month. Each unit has in-suite laundry. Owner pays heat ($1,280/year) and hydro ($3,501/year). There is strong potential to increase the rents to $1,000/room once the leases turnover next year based on current market rents and proximity to Kings College, adding a lot of value to your investment. Normalized revenue based on market rents and 5 bedrooms on main floor would be $108,000/year, yielding an impressive cap rate of 9.5% at the current list price - See attachment for cap rate calculations based on current and potential market rents. Recent upgrades include all new flooring in lower level, pot lights throughout, sprinkler system, and fresh paint throughout. Furnace was replaced in 2014, A/C 2012, and Roof in 2011. This is an exceptional investment in a high-demand location with proven income and long-term value growth. (id:57519)

1042 Brough Street. London East (east B), ON
Property is SOLD

* LOG IN to view the Sold price for this property

Investors! Rare opportunity to own a licensed duplex situated in A+ location directly across from Kings College/UWO. This property is currently leased out for $6,000/month and is perfect for investors looking for a turnkey property with strong cash flow. The current leases are from May 1, 2025 to April 30, 2026 and generate $72,000/year in rental ...

revenue,. This deceivingly large property has always been rented with ease based on the location and bedroom sizes and has never seen a vacancy since the owner has taken possession. The upper unit offers 5 bedrooms leased at $3,400/month (There are 5 bedrooms but only 4 rented). The lower level unit features 4 bedrooms leased at $2,600/month. Each unit has in-suite laundry. Owner pays heat ($1,280/year) and hydro ($3,501/year). There is strong potential to increase the rents to $1,000/room once the leases turnover next year based on current market rents and proximity to Kings College, adding a lot of value to your investment. Normalized revenue based on market rents and 5 bedrooms on main floor would be $108,000/year, yielding an impressive cap rate of 9.5% at the current list price - See attachment for cap rate calculations based on current and potential market rents. Recent upgrades include all new flooring in lower level, pot lights throughout, sprinkler system, and fresh paint throughout. Furnace was replaced in 2014, A/C 2012, and Roof in 2011. This is an exceptional investment in a high-demand location with proven income and long-term value growth. (id:57519) Read More

Listed by Coldwell Banker Power Realty