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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$545,000
Cap Rate
The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.
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Lot Size
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Building Size
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Premise Summary
Discover this legal duplex nestled on a serene dead-end street in London, Ontario's vibrant heart. Just minutes from the sought-after Wortley Village and with easy public transit to Downtown, this property promises convenience and charm. Ideal for investors or savvy homeowners, it offers the flexibility of income generation or house-hacking by living in one unit and renting out the other. The main floor boasts a spacious two-bedroom unit with a modern kitchen renovated in 2014, private parking, and basement laundry. Updates include windows (2011), roof (2009), and vinyl flooring (2014). Upstairs features another two-bedroom unit with a full kitchen, 4-piece bath, and a relaxing outdoor balcony. With its vacant status, this duplex is move-in ready, allowing you to set your rents and capitalize on its potential. Don't miss this opportunity to own a versatile property with endless possibilities! (id:39198)
Location
Province
Ontario
City
London
Address
1 Erie Avenue
Postal Code
N6J1H9
Location Highlights
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Listed by
EXP REALTY, BROKERAGE Ontario listing
Category
Property Information
Premise Status
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With Accommodation
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Tenancy
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Lot Size
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Available Space
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Building Size
1,566
Year Built
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Years Remaining in Current Lease Term
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Renewal Options
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Operational Information
Number of Working Owners
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Current Owner - years
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FF & E
Furniture, Fixtures & Equipment that remain with the business.
Not Included
Inventory Value - approximate
Consumable items the restaurant sells or uses such as food, beverages, cleaning supplies, etc.
Not Included
Franchise
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Financial Information
Yearly Rate
$545,000
Asking Price
$545,000
Cap Rate
The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.
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NOI
Net Operating Income equals all revenue from the property, minus all reasonably necessary operating expenses.
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Gross Revenue- annual
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Cash Flow - annual
1 Take your “Net Income before Taxes”, then,
2 Add up all payments to: owners + interest + allowances for asset depreciation.
3 ADD together 1 + 2 = CASH FLOW (aka Seller’s Discretionary Earnings)
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EBITDA
Earnings Before Interest, Taxes, Depreciation, Amortization.
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Premises Size (square feet)
1,566
Other Information
Owner willing to Finance
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Absentee Owner
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Support and Training
Not Included
Growth and Expansion
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Market Competition
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