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$575,000
Available - For Sale
Listing ID: X13746210
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: $3,772
Occupancy by: Tenant
Address: 4 Elmwood Place , London South, N6J 1J2, Middlesex
Directions/Cross Streets: WHARNCLIFFE ROAD
Rooms: 9
Bedrooms: 2
Bedrooms +: 0
Washrooms: 1
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 8.50
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 10.00 8.82
Room 7: Ground Bedroom 2 10.00 8.82
Room 8: Ground Bathroom 0 0 5 Pc Bath
Room 9: Basement Utility R 42.31 19.16
Room 10: Ground Workshop 25.98 20.01
No. of Pieces Level
Washroom 1 5 Ground
Washroom 2 0
Washroom 3 0
Washroom 4 0
Washroom 5 0
Washroom 6 5 Ground
Washroom 7 0
Washroom 8 0
Washroom 9 0
Washroom 10 0
Washroom 11 5 Ground
Washroom 12 0
Washroom 13 0
Washroom 14 0
Washroom 15 0
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

4 Elmwood Place , London South, N6J 1J2, Middlesex

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Maria Tompson
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At a Glance:
Type: Freehold - Detached
Area: Middlesex
Municipality: London South
Neighbourhood: South E
Style: Bungalow
Lot Size: x 135.97(Feet)
Approximate Age: 100+
Tax: $3,772
Maintenance Fee: $0
Beds: 2
Baths: 1
Garage: 0
Fireplace: N
Air Conditioning:
Pool: None
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Personal Pic Maria Tompson Sales Representative Re/Max Example Inc, Brokerage Independently owned and operated. pic Cell: 416-548-7854 | Office: 416-548-7854
Personal Picture
Maria Tompson
Sales Representative
Re/Max Example Inc, Brokerage
Independently owned and operated.
support@bestforagents.com

 

 

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