For Sale · Multifamily

71 CAVENDISH CRESCENT, London North (North N)

71 CAVENDISH CRESCENT, London North (North N), ON N6H1A3

$499,900 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

93%

About this property

Rare opportunity to own this excellent semi-detached bungalow duplex with double paved drive for easy parking in a prime west end location conveniently located to downtown, Western University, shopping & all the west end amenities. Move-in Condition!! In the same family for more than 22 years & owner occupied much of the time, this property has had extensive cosmetic & mechanical updates & features a great floor plan/layout on both floors with a superb 3 bedroom unit on main floor & an excellent 2 bedroom unit in the basement, both sharing a common area laundry room in the basement at this time but with the main floor unit having complete plumbing & electrical for its own in suite stacked laundry in bathroom on main floor if desired. Separately metered with two owned water heaters, one on each meter for easy rental or owner occupancy on either unit with supplemental income. Notable improvements include shingles in 2019, new dishwasher on main in '25 (plus portable dishwasher in lower included in purchase price).New quality kitchens, baths, front & back doors, blown in insulation in attic & exterior walls, all newer windows (except front living room window) & new furnace, all done in 2017. Brand new flooring & freshly painted main floor. Main floor features vaulted ceilings throughout for an exceptionally spacious feel & gas fireplace in living room. Central Air Conditioning. Mature & private fenced yard (132' deep lot) with side patio, rear deck & utility shed as well. Conservatively estimated $3,600 month/$43K annually gross ($2100 for upper & $1500 for lower) with tenants paying electricity costs. Some photos virtually staged. Get here quickly-exceptional value & will not last! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$500K
Down payment30% · $150K
Interest rate6.25%
Amortization25 years
Occupancy93%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$18K

Annual cash flow

$-10K

Cash-on-cash

-6.37%

DSCR

0.65

Going-in cap

3.63%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

82,414

Households

35,622

Median income

$136,000

Median age

36.3

Daytime population

123,093

5-yr growth

7.4%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 71 CAVENDISH CRESCENT, London North (North N).

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.