644 LORNE Avenue , London

4 Bed / 4 Bath / $899,900 / MLS® Listing #:40174122

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COMPLETELY RENOVATED, FULLY FURNISHED 4-PLEX IN THE HEART OF OLD EAST VILLAGE! Welcome to 644 Lorne Avenue. Currently operating as an AirBnB Superhost, this 4-unit one floor building has the potential to make more than $80,000 annually! Every unit has been carefully renovated top to bottom and best of all comes fully furnished making it a turn-key opportunity that will start generating revenue right away! All four units were updated in 2014 and feature 1 bedroom, 4 piece bathrooms, kitchens with refrigerators, oven, and microwave, comfortable living spaces with flat screen TV’s equipped with firesticks, ceiling fans, eating areas, luxury vinyl plank flooring throughout, safe ’n sound insulation between units, and WiFi controlled thermostats. There are two separate basements; one offers plenty of space for storage, the other offers a common laundry area with a gas dryer, 2-piece bath, plus 2 locked storage rooms. Additional work includes the majority of floor joists replaced, all exterior walls and attic spray foamed, updated plumbing, updated duct work, central air conditioning units replaced in 2017 and 2018, architectural roof shingles installed in 2018 and new water supply line from street to house in 2020. The exterior of this property offers peace and quiet as it is surrounded by mature trees and features one parking spot for each unit plus more along the laneway. Units 1 and 4 have their own private decks, Unit 2 has a large exclusive patio space and deck, and Unit 3 has a spacious covered patio overlooking the backyard. The backyard is a shared common area featuring green space, outdoor dining area, BBQ, and oversized detached double car garage equipped with electricity and wood stove. If you are looking for a cash flowing investment property that requires very little work in a highly desirable neighbourhood, here is your opportunity! Act quickly and be proud to add this in your portfolio. Financial information available upon request., Directions:Head north on Adelaide Street N, turn right onto Lorne Avenue. The property will be on your left hand side., Exclusions:

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Property Details

Property Type Multi-4 Unit
Property Style N/A
Square Feet 1501 to 2000
Property Tax $5,095
Maintenance $744
Days On Our Website 9
Basement
Kitchens 0
Garages 2
Pool N/A
Fireplaces
Air Conditioning No
Heating Forced Air,Gas - Forced Air,Gas
Exterior Vinyl Siding
Garage Type N/A
Sewers Sewer (Municipal)
Water Municipal

Listing Office: HOMEOLOGY REAL ESTATE GROUP, BROKERAGE

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