1267 Hillcrest Avenue London East, Ontario N5Y 4N3
$999,900
ATTENTION INVESTORS! This is the turnkey income property you've been waiting for. Fully permitted and completely vacant, this purpose-built triplex 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:47351)
Property Details
| MLS® Number | X12328052 |
| Property Type | Multi-family |
| Community Name | East A |
| Equipment Type | Water Heater |
| Features | Guest Suite, Sump Pump, In-law Suite |
| Parking Space Total | 6 |
| Rental Equipment Type | Water Heater |
| Structure | Porch |
Building
| Bathroom Total | 3 |
| Bedrooms Above Ground | 4 |
| Bedrooms Below Ground | 2 |
| Bedrooms Total | 6 |
| Age | 51 To 99 Years |
| Appliances | Water Heater, Dishwasher, Dryer, Stove, Washer, Refrigerator |
| Basement Development | Finished |
| Basement Features | Apartment In Basement |
| Basement Type | N/a (finished) |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Hardboard |
| Foundation Type | Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 1,500 - 2,000 Ft2 |
| Type | Triplex |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 140 Ft ,1 In |
| Size Frontage | 63 Ft ,8 In |
| Size Irregular | 63.7 X 140.1 Ft |
| Size Total Text | 63.7 X 140.1 Ft |
| Zoning Description | R1-6 |
https://www.realtor.ca/real-estate/28697473/1267-hillcrest-avenue-london-east-east-a-east-a
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August 08 2025 05:53:11
London and St. Thomas Association of REALTORS®
Saker Realty Corporation