43
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$449,900
Est. payment /mo
3 BD
2 BA
New
42 Terrace ST London, ON N5Z 2X4
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UPDATED:
02/19/2025 08:31 PM
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision South I
MLS Listing ID X11976341
Style 1 1/2 Storey
Bedrooms 3
Annual Tax Amount $2,517
Tax Year 2024
Property Sub-Type Duplex
Property Description
A turnkey income property with even greater potential licenced duplex is already generating steady rental income with a 2-bedroom main floor unit and an upper bachelor unit, both fully leased. But the true value lies in the unfinished basement, a prime opportunity to unlock additional income. With excellent ceiling height, a separate walkout to the backyard, and a spacious footprint, it's an ideal candidate for adding another residential unit (buyer to verify). This could significantly boost cash flow and maximize the property's highest and best use. There's more, a a large shed on the property presents another income stream, having been previously rented out. Recent updates, including deck repairs, fresh paint in the main unit, a new vanity, toilet, and bathroom window, ensure the property is well-maintained and tenant-ready. Situated on a corner lot with two parking spaces and a generous backyard, this property is just minutes from Victoria Hospital and transit routes.
Location
Province ON
County Middlesex
Community South I
Area Middlesex
Rooms
Family Room No
Basement Separate Entrance, Unfinished
Kitchen 2
Interior
Interior Features In-Law Capability, Storage
Cooling None
Fireplace No
Heat Source Gas
Exterior
Pool None
Roof Type Asphalt Shingle
Lot Frontage 125.0
Lot Depth 40.0
Total Parking Spaces 2
Building
Foundation Unknown
Listed by BLUE FOREST REALTY INC.