1 / 22

Investment signal

$1,469,000

246 GREENWOOD AVENUE

Save this home

Beds

Baths

Sqft

—

Year

—

Type

Multi-family

Suite

Investment signal

Text Hasan Open map Ask a question

Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for London South (South D). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Purpose-built four-plex that has been comprehensively renovated with major capital systems addressed, including updated electrical and plumbing throughout, new windows, modern kitchens and bathrooms, full basement waterproofing in all four units, rebuilt walkways, and new paving-stone patios. Each unit currently offers two main-floor bedrooms and a full basement that has already been professionally roughed in for two additional bedrooms, a bathroom, and a family room. Basement completion is estimated at under $100,000 total and presents a clear value-add opportunity, with projected rental upside of approximately $740 per month per unit. Three units are currently leased at $1,800 per month plus utilities on a month to month basis with the understanding that the new owners may want vacant possession to finish the basements. At full occupancy at current rents, annual gross income is projected at $91,200. Upon basement completion, projected net operating income increases to approximately $109,154, resulting in an estimated 6.5% cap rate. (id:65958)

Subtype: Multi-family
Structure: Fourplex
Community: South D
Lot dimensions: 53.7 x 249.9 FT
Bedrooms: 8 above grade
Parking: 8 total
On market: Jan 16, 2026
Status changed: Apr 22, 2026
Annual tax: $6,303.24 (2026)
Photos: 22
MLS#: X12703186
Area: LONDON_SOUTH_(SOUTH_D)

Features and systems

Parking

No Garage

Basement

Partially finishedFull

Appliances

Water Heater

Heating

Heat PumpElectric

Cooling

Wall unit

Exterior

Brick

Foundation

Poured Concrete

Lot

HillsideWooded areaFlat site

Negative cash flow ~$1,562/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

-6.38%

Cap rate

3.59%

GRM

16.7

Break-even rent

$8,994

Financing

Down payment$293,800

Loan amount$1,175,200

Mortgage$5,955/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$673

Insurance$80

Maintenance$1,224

CapEx reserve$612

Vacancy loss$368

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.

Mortgage estimate

Estimated $5,955/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 22, 2026.