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For Lease · Multifamily

MAIN - 1023 EAGLE DRIVE, London South (South J)

MAIN - 1023 EAGLE DRIVE, London South (South J), ON N5Z3H4

Price on request

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

84%

About this property

Welcome to 1023 Eagle Drive, Main Unit! Available for lease immediately, this beautifully renovated unit is situated on a quiet residential street within walking distance to London's Victoria Hospital. Ideal for a family, couple, working professionals, or students, the home is close to excellent public schools and just minutes from Highway 401, Highbury Avenue, Food Basics, shopping, public transit, parks, and other everyday amenities. The unit features a bright open-concept kitchen with a dishwasher and microwave, convenient in-suite laundry, and parking for up to 3 vehicles. The oversized living room offers plenty of space for both a comfortable living area and a separate dining area. The garage is also available for an additional $200 per month, if desired. Tenants will also have exclusive use of the backyard seating area, perfect for relaxing or enjoying summer get-togethers. Rent is plus personal electricity and 1/3 of the shared heat and water costs. Window AC Unit will be provided by the landlord. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$68K

Annual cash flow

$-15K

Cash-on-cash

-3.26%

DSCR

0.82

Going-in cap

4.56%

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

120,631

Households

53,416

Median income

$122,000

Median age

36.3

Daytime population

122,097

5-yr growth

8.1%

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

Secure deal room

Confidential diligence documents for MAIN - 1023 EAGLE DRIVE, London South (South J).

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.