184 Simcoe Street, London - Sold for $705,000 | Modern Solution Realty

184 Simcoe Street, London

184 Simcoe Street in London - 6 bedroom, 4 bathroom. Sold for $705,000. Listed at $729,900.

Turnkey fourplex generating approximately $5,500 in gross monthly income, or about $66,000 annually. After mortgage, insurance, and utilities, the property maintains a net positive cash flow, offering an estimated return of over 7%. The building includes four fully renovated units, each with its own kitchen and bath. Unit #1 rents for $1,750/month and features 2 bedrooms, a living room, kitchen, and bath. Unit #2 rents for $1,050/month, Unit #3 for $1,332.50/month, and Unit #4 for $1,230/month - each with 1 bedroom, kitchen, and bath. Coin laundry adds an additional $150/month. This solid brick building sits on a deep lot with over 5 parking spaces and zoning potential for rear parking. It includes 5 total bedrooms, 4 full bathrooms, and 4 kitchens, with 4 separate hydro meters. Additional features include baseboard electric heating in all units, a coin-operated washer and dryer, and a dedicated storage and utility room. The property is fully tenanted and ready for immediate cash flow.

Property Details

  • Property Type: Mortgage
  • Style: 2-Storey
  • Square Footage: 2250 sqft
  • Basement: Finished
  • Heating: Electric
  • Cooling: Other
  • Parking: 5 spaces
  • Property Taxes: $3,445/yr
  • Neighbourhood: East K
  • Postal Code: N6B 1H9

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