246 Wharncliffe Road South

Located in the heart of London, ON, the area surrounding the property offers an exciting mix of amenities and attractions. Residents are conveniently close to Victoria Park, a lush urban oasis perfect for relaxation and recreation. Nearby, Richmond Row's vibrant shopping, dining, and entertainment scene provides endless options for leisure and socializing. London's diverse cultural offerings, including the Grand Theatre and Museum London, are within easy reach. Excellent public transportation options and a strong sense of community make the area an appealing choice for residents. With its blend of convenience and charm, the location provides an ideal backdrop for multifamily investment opportunities.This 6-unit multifamily property, located near Downtown, Wortley Village, and a major bus route, offers an excellent investment opportunity with significant value-add potential. With 2 of the 6 units left vacant on purpose, the new owner can set new rents and maximize returns. The building includes a mix of unit types: 1-2 bedroom, 3-1 bedroom, and 2 bachelor units. Recent renovations include a stucco exterior (2021), roof with spray foam silicone system (2021), and full insulation of exterior walls and ceilings (2021). All windows and doors were replaced in 2021, reducing future maintenance costs. Most units have been updated with new bathrooms. The property features 2 upgraded 200-amp electrical panels, a high-efficiency forced air gas furnace, and low utility costs. A workshop/storage building at the rear provides additional income potential. Zoned AC2 (1), this property is well-positioned for future growth and rental demand. Projected cash flow of $75,600 per year, with the opportunity to increase returns by filling vacant units at market rates. A solid investment for those seeking to add a high-potential multifamily asset to their portfolio.