$575,000
Available - For Sale
Listing ID: X13746210
4 Elmwood Place , London South, N6J 1J2, Middlesex
| Attention investors, tradespeople, buyers working from home or anyone seeking a mortgage helper. Welcome to 4 Elmwood Place, an updated 2-bedroom bungalow in desirable Manor Park. The $575,000 asking price is for the property as it currently sits. The accessory dwelling unit has not been built, and its construction cost is additional. A building permit has been issued for a detached 838 sq. ft., 2-bedroom ADU, with plans available. Estimated construction cost is approximately $200,000, and projected rent once completed is $1,950 per month. The main house currently rents for $1,950 per month. The heated and insulated 21'6" x 26' detached garage/shop has a separate hydro meter, electric heat, water, CCTV and security system. With projected rent of $1,100 per month, it is ideal for a hobbyist, workshop or home-based business. Once the ADU is completed, projected gross rental income is approximately $5,000 per month or $60,000 annually. Based on the worksheet assumptions, annual positive cash flow is projected at $11,262 before vacancy, maintenance and management. First-year principal reduction is projected at $14,269, for a combined first-year benefit of approximately $25,531. A full income, expense, cash-flow and mortgage-amortization projection worksheet is available. The renovated home offers two bedrooms, a laundry room, an oversized 5-piece bathroom with a custom double vanity, plus an updated kitchen with modern countertops and four stainless steel appliances. The original fireplace is a decorative focal point but is not in use. Improvements include a new furnace and heat-pump/air-conditioning system installed in 2023, upgraded electrical and plumbing, updated windows and lighting, luxury vinyl plank flooring, ceramic tile in 2017, and a metal roof in 2019. Enjoy a private fenced backyard and wood deck, minutes from downtown London, parks, trails, shopping, restaurants and transit. |
| Price | $575,000 |
| Taxes: | $3772.00 |
| Occupancy: | Tenant |
| Address: | 4 Elmwood Place , London South, N6J 1J2, Middlesex |
| Directions/Cross Streets: | WHARNCLIFFE ROAD |
| Rooms: | 9 |
| Bedrooms: | 2 |
| Bedrooms +: | 0 |
| Family Room: | F |
| Basement: | Full, Unfinished |
| Level/Floor | Room | Length(ft) | Width(ft) | Descriptions | |
| Room 1 | Ground | Foyer | 6.17 | 4.92 | |
| Room 2 | Ground | Family Ro | 18.93 | 8.5 | |
| Room 3 | Ground | Dining Ro | 9.25 | 9.58 | |
| Room 4 | Ground | Kitchen | 13.09 | 9.58 | |
| Room 5 | Ground | Laundry | 6.07 | 6.33 | |
| Room 6 | Ground | Bedroom | 10 | 8.82 | |
| Room 7 | Ground | Bedroom 2 | 10 | 8.82 | |
| Room 8 | Ground | Bathroom | 5 Pc Bath | ||
| Room 9 | Basement | Utility R | 42.31 | 19.16 | |
| Room 10 | Ground | Workshop | 25.98 | 20.01 |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 5 | Ground |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 5 | Ground |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Total Area: | 0.00 |
| Approximatly Age: | 100+ |
| Property Type: | Detached |
| Style: | Bungalow |
| Exterior: | Board & Batten |
| Garage Type: | Detached |
| (Parking/)Drive: | Available, |
| Drive Parking Spaces: | 5 |
| Park #1 | |
| Parking Type: | Available, |
| Park #2 | |
| Parking Type: | Available |
| Park #3 | |
| Parking Type: | Private |
| Pool: | None |
| Other Structures: | Fence - Full, |
| Approximatly Age: | 100+ |
| Approximatly Square Footage: | 1100-1500 |
| Property Features: | Cul de Sac/D, Fenced Yard |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Heat Type: | Forced Air |
| Central Air Conditioning: | Central Air |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
| Utilities-Cable: | Y |
| Utilities-Hydro: | Y |
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| CENTURY 21 FIRST CANADIAN CORP |
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Maria Tompson
Sales Representative
Dir:
1-866-382-2968
Bus:
416-548-7854
Fax:
416-981-7184
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At a Glance:
| Type: | Freehold - Detached |
| Area: | Middlesex |
| Municipality: | London South |
| Neighbourhood: | South E |
| Style: | Bungalow |
| Approximate Age: | 100+ |
| Tax: | $3,772 |
| Beds: | 2 |
| Baths: | 1 |
| Fireplace: | N |
| Pool: | None |
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