660 Cheapside Street, London East, ON N5Y 3Y2 – London East – $9,495,000

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Description

An exceptional multi/residential property located in the north end of London, Ontario. This offers investors a chance to compliment an existing_ portfolio or achieve geographic diversification with this turn-key asset. This site has been professionally upgraded with 30 suites in this four storey apartment building with an elevator. 660 Cheapside St. presents a unique value-added opportunity with renovated high end finishes, all with large balconies. A party room/lounge, a gym and both front door and underground parking. Luxury finishes include fireplaces, ceramic tile, laminate floors, all new lighting and carpeted bedrooms. All the units have stainless steel appliances (stove, fridge, dishwasher, washer and dryer). Building is comprised of 15 – 1 bedroom apartments, 7 – 2 bedroom, 6 – 2 bedroom loft apartments and 2 – 3 bedroom apartments. Controlled entry both front door entrance and underground parking. Excellent location in a mature residential area within walking distance to shopping and all your essential needs. Close to playground, schools, churches, and tennis courts. Pride of ownership throughout this investment. Gross income over $659,000.00. Cap Rate Over 5%.

Property Details

• Bedrooms: 47
• Property Type: Residential Freehold
• List Price: $9,495,000
• Parking Spaces: 35
• Tax Year: 2025
• Annual Taxes: $71,414