231 GREENWOOD AVENUE - Photo 1 of 38, London South (South D), Ontario
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$1,999,900

231 GREENWOOD AVENUE — London South (South D), Ontario

N6J3G5

0Beds
6Parking

Listed by PRIME REAL ESTATE BROKERAGE

About This Property

Purpose built four plex now converted to a SIXPLEX with City of London approval to covert into an EIGHTPLEX. Two bedrooms in each unit with with strong valued opportunity with four 2 bedrooms on the main level and four 2 bedroom lower units. All units have been renovated from top to bottom. Presently 2 units have been converted into 2 bedroom upper and 2 bedroom lower units. The other 2 units are 2+1 bedrooms with a finished basements and lower levels roughed in for a 2nd bedroom and kitchen. Strong value-add opportunity with upside already approved. Conversion will increase NOI by over $30,000 annually and lift valuation by approximately $432,000. Present Gross annual Income $132,000. Net $115,209.03 Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 NET income of $146,119.03 at 6.5 cap bringing valuation to $2,248,000. Over $400,000 value upside potential based on developed property income. Asking price premium includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings, 8x2 development approximately 75% complete." (id:63357)

Property Details

Property Type
Multi-Unit
Bedrooms
0
Bathrooms
0
Status
Active

Location & Neighborhood

What's nearby 231 GREENWOOD AVENUE

Lifestyle Summary

Nestled on Greenwood Avenue, this residence is perfectly positioned for a life steeped in family-friendly convenience. Start your mornings with a leisurely stroll to Kensal Park Public School, just a minute away. This proximity makes school drop-offs a breeze, allowing parents and children to relish those precious extra moments together. After school, the kids can easily walk home, making it a safe and enjoyable routine. For afternoon adventures, head over to Greenway Park, just a 7-minute walk from your doorstep. Here, children can unleash their energy on the playground, while parents can take a moment to unwind amidst the greenery. The nearby Kensal Park, only 8 minutes away, offers a variety of recreational facilities, perfect for family picnics or weekend sports activities. On weekends, you might stroll to Murray Park, 10 minutes from home, which is ideal for a family day out, complete with walking paths and open spaces for games. When it’s time to refuel, Fatty Patty's is just a 6-minute jaunt, offering tasty meals that cater to even the pickiest of eaters. Whether you're grabbing a quick bite after school or enjoying a relaxed weekend lunch, this spot is a local favorite that never disappoints. For any health-related needs, Springbank Pharmacy and Shoppers Drug Mart are conveniently accessible, ensuring you have easy access to essential products without venturing far. Life on Greenwood Avenue is characterized by its easy access to green spaces and essential services, creating a rhythm that prioritizes family time. With schools, parks, and dining options all within a short walk, this property fosters a lifestyle that values community and connection, all while providing the comforts of home.

Parks & Recreation

Local Amenities

POI data updated recently

London South (South D) Market Snapshot

18

Active Listings

$625K

Median Price

0

Avg Days on Market

Last updated: Mar 6, 2026

Listed by

PRIME REAL ESTATE BROKERAGE

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$1,999,900