246 Greenwood Avenue · London, N6J 3G4
MLS® X14159824
Listing courtesy of Prime Real Estate Brokerage·Listing last changed 11 hours ago
Key facts
- Property type
- Fourplex
- Square footage
- 2,500-3,000 sqft
- Lot size
- 55 × 249.85 ft
- Parking
- 8 spaces
- Property tax
- $6,303/yr (2025)
Description
Purpose-built four-plex that has been comprehensively renovated with major capital systems addressed, including updated electrical and plumbing throughout, new windows, modern kitchens and bathrooms, full basement waterproofing in all four units, rebuilt walkways, and new paving-stone patios. Each unit currently offers two main-floor bedrooms and a full basement that has already been professionally roughed in for two additional bedrooms, a bathroom, and a family room. Basement completion is estimated at under $100,000 total and presents a clear value-add opportunity, with projected rental upside of approximately $740 per month per unit. Two units are currently leased at $1,800 per month plus utilities on a month to month basis with the understanding that the new owners may want vacant possession to finish the basements. At full occupancy at current rents, annual gross income is projected at $91,200. Upon basement completion, projected net operating income increases to approximately $109,154, resulting in an estimated 6.5% cap rate.
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Property details
Interior
- Size
- 2,500-3,000 sqft
- Rooms
- 16 rooms · 4 kitchens
- Bathrooms
- 4 × 4-piece
- Basement
- Partially Finished
- Heating
- Heat Pump
- Cooling
- Wall Unit(s)
Building & lot
- Type
- Fourplex, 1 Storey/Apt
- Lot size
- 55 × 249.85 ft
- Exterior
- Brick
- Foundation
- Poured Concrete
- Roof
- Asphalt Shingle
- Water & sewer
- Sewer
Parking
- Driveway
- Front Yard Parking, Lane, Unreserved (8 spaces)
- Parking
- 8 spaces
Fees & taxes
- Property tax
- $6,303/yr (2025)
Estimated value range
$1.4M to $1.5M
An automated range from recent comparable sales nearby. It is not an appraisal and says nothing about whether this home is priced correctly; condition, finishes and timing are outside what it can see.
Based on a model of 13,409 London sales through September 2026; it lands within 10% of the sold price on 64% of homes. Shown within 5% of the asking price.
Schools nearbyclosest is Kensal Park Public School, 200 m
Elementary
- 7.1
Kensal Park Public School
200 m · Grades JK-8
Thames Valley District School Board
- 8.9
École élémentaire catholique Frère André
770 m · Grades JK-6
Conseil scolaire de district des écolesCatholique
- 4.4
Woodland Heights Public School
990 m · Grades JK-8
Thames Valley District School Board
Secondary
- 2.7
Westminster Secondary School
1.3 km · Grades 9-12
Thames Valley District School Board
- 4.2
London South Collegiate Institute
2.7 km · Grades 9-12
Thames Valley District School Board
- 4.9
Saunders Secondary School
2.9 km · Grades 9-12
Thames Valley District School Board
Distances are straight-line from this address. School boards set their own attendance areas and do not publish them, so a school listed here is not a guarantee of placement. Confirm with the board before you rely on it.
Monthly paymentest. $7,963/mo all in
Monthly payment estimate
Land transfer tax$25,855 on closing
Ontario LTT
$25,855
First-time rebate
−$4,000
First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.
Price & listing history
Affordabilityneeds $336,000 household income
Minimum household income required
$336,000
Based on 20% down, a 7.07% qualifying rate (the 5.07% contract rate plus two points), 25 year amortization, this home's listed property tax and a 32% GDS ratio. Rounded to the nearest thousand.
Not sure about financing? Call Colin at (226) 212-5099 or text
Get notified about similar homes
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Colin Abbot, Broker
Oak and Key Real Estate Brokerage Inc., Brokerage, 490 Melcrest Road, London, ON N6J 3T1, Phone: (226) 212-5099
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