246 GREENWOOD AVENUE, London South (South D)
$1,469,000
For sale: Multiplex
- Property type
- Fourplex
- Bedrooms / bathrooms
- 8 bedrooms, 4 bathrooms
- Living area
- 3,000 sqft
- MLS®
- MLS® X12703186
- Neighbourhood
- South D
Purpose-built four-plex that has been comprehensively renovated with major capital systems addressed, including updated electrical and plumbing throughout, new windows, modern kitchens and bathrooms, full basement waterproofing in all four units, rebuilt walkways, and new paving-stone patios. Each unit currently offers two main-floor bedrooms and a full basement that has already been professionally roughed in for two additional bedrooms, a bathroom, and a family room. Basement completion is estimated at under $100,000 total and presents a clear value-add opportunity, with projected rental upside of approximately $740 per month per unit. Three units are currently leased at $1,800 per month plus utilities on a month to month basis with the understanding that the new owners may want vacant possession to finish the basements. At full occupancy at current rents, annual gross income is projected at $91,200. Upon basement completion, projected net operating income increases to approximately $109,154, resulting in an estimated 6.5% cap rate.
Sold data
Multiplex homes in London South (South D) — recent sold market
Multiplex homes in London South (South D) took a median of 40 days to sell over the last 365 days, with the quickest quarter selling within 22 days and the slowest quarter taking more than 78, across 123 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 Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 114 days.
The median sale price was $599,900.
Homes sold for about 3.8% below asking on average, so there was room to negotiate.
About 13% of sales closed above the list price.
Around 28% of sellers reduced their price before finding a buyer.
- Median days to sell
- 40
- Median sale price
- $599,900
- Sale-to-list ratio
- 96.2%
- Sold above asking
- 13%
Based on 123 recorded sales in the last 1 year. Aggregate statistics only; individual sale prices are not shown.
Schools
Schools in London South (South D)
London South (South D) 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 South (South D)
- 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
Homes for sale near 246 GREENWOOD AVENUE
$999,999
Multiplex7+131,500–2,000 sqft17 CARFRAE CRESCENT, South F, London South
$1,099,000
Detached442,500–3,000 sqft114 LONGVIEW COURT, South K, London South
$1,109,900
Detached5+142,500–3,000 sqft62 TALBOT GROVE LANE, Talbotville, Southwold
$1,380,000
Detached523,000–3,500 sqft42445 JOHN WISE LINE, Rural Central Elgin, Central Elgin
$1,349,000
Detached442,500–3,000 sqft78 OPTIMIST DRIVE, Rural Southwold, Southwold
$1,049,999
Detached443,000–3,500 sqft1895 SUMAC WAY, South B, London South
$1,099,000
Detached4+142,000–2,500 sqft2 WHISPERING PINE LANE, Tillsonburg, Tillsonburg
$998,000
Detached5+132,500–3,000 sqft764 ECLIPSE WALK, North B, London North