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193 Wharncliffe Rd N 4 Unit Apartment Building $501,718 USD ($125,430 USD/Unit) 13.44% Cap Rate London, ON N6H 2B5
Investment Highlights
- Prime investment opportunity located within walking distance to Western University, Downtown London, and major bus transit routes.
- Recent capital improvement with new asphalt shingle roofing completed in December 2024.
- Strong income potential with estimated gross annual income of $93,400 at full occupancy; utilities included in rents.
- Fully tenanted 2½-storey brick building featuring four units: one spacious 5-bedroom unit over two floors, two 2-bedroom units, and one bachelor unit.
- On-site parking, coin-operated laundry, and three hydro meters enhance convenience and operational efficiency.
Executive Summary
Opportunity for savvy Investor to acquire a turn-key investment, within walking distance to Western University, Downtown and Bus Transit routes. 2 1/2 - storey brick building located at northeast intersection of Wharncliffe Road North and Black Friars. New asphalt shingle roofing December 2024. Property features 4 units including -: one 5-bedroom unit over two floors, Bachelor unit & 2 two-bedroom units. Owned-forced air Gas Furnace, Coin-op laundry and two hot water tanks. On-site car Parking. Gross Income with full occupancy potential estimated at $93,400. Currently Bachelor Unit vacant. Utilities are included in Rents. 3 Hydro Meters on site. Area is recognized as the heritage conservation District known as Blackfriars/Petersville. All expense information provided by owner, to be reconfirmed by buyer. Property is being sold where is as is.
Property Facts Under Contract
| Price | $501,718 USD | Apartment Style | Low-Rise |
| Price Per Unit | $125,430 USD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 13.44% | Building Size | 2,500 SF |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1995 |
| Property Subtype | Apartment | Parking Ratio | 1.6/1,000 SF |
| Zoning | R2 - 2(19) - Medium Density Residential Zoning District | ||
| Price | $501,718 USD |
| Price Per Unit | $125,430 USD |
| Sale Type | Investment |
| Cap Rate | 13.44% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 2,500 SF |
| No. Stories | 3 |
| Year Built | 1995 |
| Parking Ratio | 1.6/1,000 SF |
| Zoning | R2 - 2(19) - Medium Density Residential Zoning District |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Smoke Free
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 2+1 | 2 | - | - |
| 5+3 | 1 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
70/100
Exceptionally bikeable
90/100
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193 Wharncliffe Rd N
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