228 BURNSIDE DRIVE, London East (East I)
$1,199,900
For sale: Multiplex
- Property type
- Investment
- Bedrooms / bathrooms
- 9 bedrooms
- MLS®
- MLS® X12823036
- Neighbourhood
- East I
A great "Turn Key" investment opportunity located on a desirable quiet residential street. This income property has an annual gross income of $61,402.38. The building structure is 3 levels with 3 rental units with a 4th rental unit in the double garage which has been converted to a one bedroom apartment. Numerous updates throughout. Updated metal roof, windows, copper plumbing, coin-op washer & dryer. Separate storage rooms and large garden shed. Separate hydro meters, 4 fridges & 4 stoves, 1 dishwasher, lots of parking. Upper 3 bedroom unit rents for $2000 + hydro, main floor 3 bedroom unit rents for $1,362.66 + hydro, lower 2 bedroom unit rents for $927.64. + hydro, 1 bedroom garage unit rents for $845.69. including hydro. Numerous upgrades: newer pavement on driveway, first floor renovated bathroom and dishwasher installed. Second floor newer flooring, paint and updated bathroom. Newer eave though and shed. Newer air conditioning and furnace ( 2023). This property is in excellent condition inside and out and fully rented with good tenants. A "Must See" worthwhile investment.
Sold data
Homes in East I — recent sold market
Homes in East I took a median of 29 days to sell over the last 90 days, with the quickest quarter selling within 15 days and the slowest quarter taking more than 52, across 42 recorded sales.
That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 37 days.
The median sale price was $499,950.
Homes sold for about 3.1% below asking on average, so there was room to negotiate.
About 10% of sales closed above the list price.
Around 26% of sellers reduced their price before finding a buyer.
- Median days to sell
- 29
- Median sale price
- $499,950
- Sale-to-list ratio
- 96.9%
- Sold above asking
- 10%
Based on 42 recorded sales in the last 90 days — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.
Schools
Schools in London East (East I)
London East (East I) has 116 Fraser Institute–rated schools (97 elementary and 19 secondary), averaging 5.5/10.
- Rated schools
- 116
- Elementary
- 97
- Secondary
- 19
- Average rating
- 5.5 / 10
Top-rated schools in London East (East I)
- John Dearness — elementary, LondonFraser rating 9.8/10
- St George — elementary, LondonFraser rating 9.1/10
- Jack Chambers — elementary, LondonFraser rating 8.8/10
- Sir Arthur Currie — elementary, LondonFraser rating 8.8/10
- London Central — secondary, LondonFraser rating 8.7/10
- Ryerson — elementary, LondonFraser rating 8.7/10
School ratings from the Fraser Institute's Ontario school report cards.
Currently for sale
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