$ 1,799,000
231 Greenwood Avenue
231 Greenwood Avenue, London South, ON N6J3G5 Photo 1
38 Photos
231 Greenwood Avenue, London South, ON N6J3G5 Photo 2
231 Greenwood Avenue, London South, ON N6J3G5 Photo 3
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231 Greenwood Avenue, London South

Purpose-built fourplex now converted to a 6-unit income property, with City-approved plans for an 8-unit build-out. All units are FULLY RENOVATED TOP TO BOTTOM, offering immediate cash flow with significant upside. Presently the 2 bedroom upper rented at $1800p/m plus utilities and two 2 bedroom lower units rented at $1600p/m plus utilities. The other two units are 2+1 bedrooms with a finished basements and lower levels roughed in for a 2nd bedroom and kitchen at $2100p/m plus utilities.. Water and Taxes are $11789 for 2025..Present Gross annual Income $132,000. Net income $114,919.83 representing a cap rate of 6.4...Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 with a potential net income of $146,119.03 representing a cap rate 8.2. Asking price includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings in place with 8x2 development approximately 75% complete." Over $400,000 value upside potential based on developed property income. (id:1945)
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Property details for 231 Greenwood Avenue, London South

Type
Multi-family
Bedrooms
14
Bathrooms
6
Lot Size
66 x 198 FT
Basement
Finished, N/A
Parking
No Garage, Shared
Heating
Heat Pump, Natural gas
Cooling
Central air conditioning
Exterior
Brick
Annual Taxes
$6,136 (2026)

Nearby Listings Stat

Estimated price and comparable properties near 231 Greenwood Avenue

Active Listings
1
Min Price
$1,799,000
Max Price
$1,799,000
Avg Price
$1,799,000
Days on Market
160
days
Sold Listings
0
Min Sold Price
$N/A
Max Sold Price
$N/A
Avg Sold Price
$N/A
Days until Sold
N/A
days

Neighbourhood Census Data

London, Ontario

Population
479
Median Age
43.4
Median Income
$34,261
Dwelling Value
$224,810

Housing Tenure

Owners 88%
Renters 10%

Age Distribution

Dwelling Types

Commute Mode

Education Level

Housing Age

Commute Duration

Avg Household Size: 2.3
Pop. Density: 2,051.4/km²
Avg Shelter Cost: $1,048/mo
Owners with Mortgage: 57.1%
Owners Spending 30%+: 11.4%
Tenants Spending 30%+: 0%
English only: 89.6%
English and French: 9.4%
Median Household Income: $70,144
Median Employment Income: $36,352

Price History

Listed
April 8, 2026
by PRIME REAL ESTATE BROKERAGE
Current Price
$1,799,000
Type
Multi-family
For Sale
231 Greenwood Avenue

Contact Agent Get in touch about 231 Greenwood Avenue, London South

TREVOR TYSON
TREVOR TYSON
PRIME REAL ESTATE BROKERAGE

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