Address
4 Elmwood Place, London South (South E), ON
Price
$ 575,000
Property Attributes
- ID#X13746210
- TypeSingle Family
- Listing Status Active
- MunicipalityLondon South (South E)
- CityLondon South (South E)
- AreaSouth E
- NeighbourhoodSouth E
- Postal CodeN6J 1J2
- StyleBungalow
- Price$ 575,000
- Bedrooms2
- Bathrooms1
- Half Bathrooms0
Data Source:
Canadian Real Estate Association (CREA)
Property Description
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. (id:7434)
General Features
| Features | Cul-de-sac, Ravine, Level, Carpet Free, Sump Pump |
|---|---|
| Community Features | School Bus |
| Property Type | Single Family |
| CommunityName | South E |
| Amenities | Park, Public Transit |
| Building Age | 100+ years |
| Building Amenities | Separate Electricity Meters |
| Building Appliances | Water Heater, Alarm System, Dishwasher, Dryer, Microwave, Stove, Washer, Refrigerator |
| Building Architectural Style | Bungalow |
| Building Cooling Type | Central air conditioning |
| Location Description | Cross Streets: WHARNCLIFFE ROAD. ** Directions: Heading south on Wharncliffe Road, turn right onto Elmwood Place. |
| Parking Space Total | 7 |
| Foundation Type | Poured Concrete |
| Building Type | House |
| Ownership Type | Freehold |
| Building.StoriesTotal | 1 |
Interior Features
| Building Fireplace Present | False |
|---|---|
| Building Heating Type | Forced air, Heat Pump |
| Building Heating Fuel | Electric, Natural gas |
| Basement Development | Unfinished |
| Basement Type | Full (Unfinished) |
| Construction Style Attachment | Detached |
| Living Area Range | 1100 |
| Bedrooms | 2 |
Exterior Features
| Structure | Deck, Workshop |
|---|---|
| Land Amenities | Park, Public Transit |
| Sewer | Sanitary sewer |
| Exterior Finish | Wood |
| Fence Type | Fully Fenced, Fenced yard |
Room Details
| Room | Dimensions | Level | Flooring | Details |
|---|---|---|---|---|
| Bedroom | 3.05 m x 2.69 m | Ground level | 2.69 m | |
| Bedroom 2 | 3.05 m x 2.69 m | Ground level | 2.69 m | |
| Dining room | 2.82 m x 2.92 m | Ground level | 2.92 m | |
| Family room | 5.77 m x 2.59 m | Ground level | 2.59 m | |
| Foyer | 1.88 m x 1.5 m | Ground level | 1.5 m | |
| Kitchen | 3.99 m x 2.92 m | Ground level | 2.92 m | |
| Laundry room | 1.85 m x 1.93 m | Ground level | 1.93 m | |
| Utility room | 12.9 m x 5.84 m | Basement | 5.84 m | |
| Workshop | 7.92 m x 6.1 m | Ground level | 6.1 m |
Amenities
- Views
- New Construction
- Adult 55+
- Lease To Own
- No Strata Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in N6J 1J2
Price
In The Neighbourhood
London South (South E)
$ 429,900
- Type
- Single Family
- Rooms
- 3 Beds + 2 Baths
KELLER WILLIAMS LIFESTYLES
London South (South E)
$ 468,000
- Type
- Single Family
- Rooms
- 2 Beds + 1.5 Baths
INITIA REAL ESTATE (ONTARIO) LTD
London South (South E)
$ 499,900
- Type
- Single Family
- Rooms
- 4 Beds + 2.5 Baths
SUTTON GROUP - SELECT REALTY
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