894 Adelaide Street N, London MLS Number: 40584621

EXCELLENT APARTMENT BUILDING ON THE EDGE OF OLD NORTH. 6 UNIT BUILDING CONSISTING OF 5 TWO BEDROOM APARTMENTS AND ONE, ONE BEDROOM. COMPLETELY RENOVATED TO DRYWALL AND FLOOR TO CEILING. LUXURY CONTEMPORARY KITCHENS WITH QUARTZ COUNTERTOPS, DISHWASHER AND STAINLESS APPLIANCES. LUXURY BATHROOMS WITH FULL BATHTUBS AND VANITIES WITH QUARTZ COUNTERTOPS. HIGH END LIGHT FIXTURES, TILE AND FLOORING THROUGHOUT SUITES AND COMMON AREAS. ELECTRIC FIREPLACES IN ALL UNITS. CONTROLLED ENTRY WITH VIDEO DOORBELLS PER SUITE. NEW ELECTRICAL, PLUMBING, AND HIGH EFFICIENCYBOILER SYSTEM. NEW HIGH EFFICIENCY WINDOWS THROUGHOUT. NEW SIDEWALKS AND ASPHALT PARKING LOT AND DRIVEWAY. ANNUAL INCOME OF APPROXIMATELY $130,160. SITE PLAN AND BUILDING PERMIT APPROVED FOR A NEW ADJACENT BUILDING FOR 9 TWO BEDROOM UNITS WITH INSUITE LAUNDRY AND JULIET BALCONIES. THE BUILDING WILL BE 3 FLOORS, WITH 3 UNITS PER FLOOR, RAISED 2 STOREY BUILDING WITH TOTAL SQ. FEET OF APPROX. 6,000. BUILD THE BUILDING AND HAVE APPROX. $11,000. IN INCOME COMING IN EACH MONTH WHILE YOU BUILD IT. FINAL PROJECTED COMPLETION VALUE OF $5,700,000.Seller will hold a first mortgage for $1,500,000 at 3.9% for one and a half years.