6 Gower Street,London North (North N), ON N6H2E6
London North (North N), ON N6H2E6
Description
INVESTOR ALERT! INCOME-GENERATING STUDENT RENTAL WITH FUTURE DEVELOPMENT POTENTIAL!Excellent investment opportunity in London! Walking distance to university and public transit.This solid brick corner-lot bungalow offers an attractive combination of established rentalincome, a City of London rental license and potential for future income expansion.Featuring 5 bedrooms, this property is ideally suited for student accommodation. The main flooroffers a spacious eat-in kitchen, bright living room with wood-burning fireplace, 2 generouslysized bedrooms and a 3-piece bathroom. The finished lower level features a separate entrance, 3additional bedrooms, family room, 3-piece bathroom, utility room, laundry and ample storagespace.CITY-LICENSED RENTAL PROPERTY! Previously inspected by the City inspector and Fire Department.Equipped with interconnected, hardwired smoke and carbon monoxide alarms on both levels.PROVEN RENTAL COLLECTIONS:May 2024 - April 2025: $42,535May 2025 - April 2026: $37,270FUTURE DEVELOPMENT POTENTIAL! Following the 2023 City of London zoning by-law changes, theproperty may qualify for a detached garden suite, offering an opportunity to generateadditional rental income, subject to municipal approvals and permits.Additional highlights include a roof replaced in 2024, concrete parking pad and a spaciousbackyard.Whether you are looking to expand your student rental portfolio or maximize returns throughfuture development, this property offers excellent investment potential!DON'T MISS THIS OPPORTUNITY TO OWN AN INCOME-PRODUCING PROPERTY WITH ROOM TO GROW! (id:13843)
Details
| MLS # | X14152220 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Status | Active |
| Days On Site | 8 |
| Listing Provided By | ROYAL LEPAGE FLOWER CITY REALTY | SANTOSH R SANGHRAJKA |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 700 |
| Basement | Y |
| Story(s) | 1 |
Interior
| Heating | Forced air, Natural gas |
|---|---|
| Appliances | Washer, Stove, Dryer, Two Refrigerators |
| Fireplace Yes / No | Yes |
Exterior
| Foundation Details | Poured Concrete |
|---|
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 4 |
Utilities
| Sewer | Sanitary sewer |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 5060 |
|---|---|
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| City | London North (North N) |
| Postal Code | N6H2E6 |
| Listing VS Median (in N6H2E6) | |
Price: $599,000 low | high Med: $599,000 sqft: 700 low | high Med: 700 $ / sqft: $856 low | high Med: $856 On site: 8 low | high Med: 8 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | London North (North N) |
| Postal Code | N6H2E6 |
| Listing VS Median (in N6H2E6) | |
Price: $599,000 low | high Med: $599,000 sqft: 700 low | high Med: 700 $ / sqft: $856 low | high Med: $856 On site: 8 low | high Med: 8 | |
