434 Second Street,London East, ON N5W 4T1
London East, ON N5W 4T1
Description
An excellent investment opportunity with proven cash flow, this fully tenanted 8-bedroom duplex near Fanshawe College offers immediate rental income and an attractive cap rate of over 6% based on current rental revenue and estimated operating expenses. The property consists of two self-contained 4-bedroom, 2-bathroom units, each featuring a private entrance, in-suite laundry, its own furnace and central air conditioning, and separately metered hydro. Current annual gross rental income is approximately $53,000, with an estimated net operating income of approximately $44,000. Located just steps from Fanshawe College, the property sits in one of London's strongest student and workforce rental markets, supporting consistent tenant demand and long-term investment appeal. Additional features include individual HVAC systems for each unit, internet and cable wiring in every bedroom, and a 12 x 10 shed with a steel roll-up door for convenient additional storage. An incredible opportunity to purchase a fully leased, income-producing asset offering immediate cash flow in one of London's most established rental locations.
Details
| MLS # | X13586434 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 32 |
| Listing Provided By | TEAM GLASSER REAL ESTATE BROKERAGE INC. | X13586434 798700 |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 4 |
| Basement | Y |
| Story(s) | 1 |
| Acreage | 0.11 |
Interior
| Interior Features | Other, Separate Hydro Meter, Separate Heating Controls |
|---|---|
| Cooling | Central Air |
| Heat Source | Gas |
| Fireplace Yes / No | No |
Exterior
| Roof | Shingles |
|---|---|
| Foundation Details | Concrete |
| Topography | Dry, Flat |
| Construction Materials | Vinyl Siding |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Private Double |
Utilities
| Sewer | Sewer |
|---|
Taxes
| Tax Annual Amount | 3336 |
|---|---|
| Tax Legal Description | PART OF LOTS 14, 15 AND 16 PLAN 483 DESIGNATED AS PART 7 PLAN 33R-8982; TOGETHER WITH LT214459; LONDON/LONDON TOWNSHIP |
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| Region | Middlesex |
| City | London East |
| Postal Code | N5W 4T1 |
| Area | East H |
| Listing VS Median (in N5W 4T1) | |
Price: $685,000 low | high Med: $0 On site: 32 low | high Med: | |
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Learn More About This Property
| Province | ON |
|---|---|
| Region | Middlesex |
| City | London East |
| Postal Code | N5W 4T1 |
| Area | East H |
| Listing VS Median (in N5W 4T1) | |
Price: $685,000 low | high Med: $0 On site: 32 low | high Med: | |
