1267 Hillcrest Avenue, London East (East A), N5Y4N3

Home Overview

Description

Newly constructed three-unit home! This purpose-built three unit home, features three spacious 2-bedroom units with a projected gross annual income of $76,800+, yielding a 6.8% cap rate (NOI - $67,800). Situated on a quiet street just 5 minute drive from Fanshawe College and Kings College/University. it is also surrounded by amenities. This location offers strong rental demand and minimal vacancy risk, a perfect fit for your investment portfolio. With all three units vacant, you have the rare opportunity to hand-pick tenants and set market rents from day one. No detail was overlooked in this build: the striking exterior is finished with James Hardie board siding, black-framed windows, and a covered front porch for timeless curb appeal. Inside, each unit features luxury vinyl plank flooring both scratch-proof and waterproof, making it ideal for rental durability. Each unit is also thoughtfully designed with: A full set of stainless steel appliances, private mechanical/storage room, separate high-efficiency furnaces, Individual hot water tanks, 100-amp electrical panels, Separate hydro meters and 9-ft ceilings. Parking is a breeze with a large double wide driveway and additional development potential at the rear. This property falls just outside the "Near-Campus Neighborhood" zone, opening the door for a detached fourth unit in the backyard with no bedroom count maximum. Whether it's a garage with a coach house above or a larger standalone garden suite, the options are there to further maximize your ROI. (Buyer to verify zoning details and permissions). ask the listing agent for more details. Don't miss out on this high-performing asset with immediate income and a future development opportunity out back. (id:39198)

10 days

On Market

Single Family

Property Type

$2,187 / Year

Est. Annual Taxes

House

Style

-

Garage

Apartment in basement, Separate entrance, N/A

Basement

Location & Areas