Property Description for 162 MOUNT PLEASANT AVENUE
Exceptional turn-key investment opportunity in a prime London location near both Downtown and Western University.This fully renovated triplex generates $91,800 in annual income with a net operating income of $74,648, reflecting a strong 7.5% cap rate.The property features three self-contained units: a 5-bedroom, 2.5-bath student rental (Unit A); a 1-bedroom, 1-bath lower-level unit rented to a professional couple (Unit B); and a vacant, detached 2-bedroom, 1-bath dwelling with private garage and workshop (Unit C), ideal for an owner occupier or to lease at top market rent.The units have been recently updated with modern finishes and functional layouts. Major mechanical upgrades include a new furnace, water heater, and air conditioner in Unit C (2024), and a new air conditioner for the main house (2025).Each unit has its own private yard, and the property sits on a large lot with ample parking and outdoor space. A rare opportunity to acquire a stabilized, low-maintenance asset with strong cash flow and future upside. (id:38686)
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Property Details
Property Tax
: $4,184 (2024)MLS® #
: X12377928
Home Features
Property Type
: MultiFamily
Room Details
Partial Bathroom
: 1
Interior Features
Heating
: ["Forced air", "Natural gas"]Basement
: ["Apartment in basement", "N/A"]
Utilities
Sewer
: ["Sanitary sewer"]
Other
Parking Features
: ["Attached Garage", "Garage"]Exterior Features
: ["Vinyl siding"]
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