Fantastic opportunity for first-time buyers and investors alike! This charming yellow brick duplex in London's vibrant Old East Village offers the perfect chance to offset your mortgage with rental income or add a solid investment property to your portfolio. The upper unit will be vacant as of September 1st, making it ideal for an owner-occupier or for setting your own market rent. This bright and spacious 2-bedroom unit features a unique layout with one bedroom on the main floor and a second bedroom upstairs. The upper unit also offers its own private laundry, electric baseboard heating with the added comfort and charm of a gas fireplace. The lower unit is occupied by excellent month-to-month tenants who are currently paying $1,083 per month and would love to stay. This self-contained unit includes its own separate laundry, forced air gas heating. Both units are separately metered for hydro and gas, with tenants currently paying their own utilities. Water and water heater rentals are paid by the owner. Recent updates include the roof being redone in three phases between 2018 and 2021, a refinished bathtub in 2023, a new washer in 2023, a new gas fireplace insert in 2025, and a newly rebuilt deck in 2025.With separate utilities, private laundry for each unit, and the flexibility of a soon-to-be vacant upper unit, this property offers exceptional value and versatility. Whether you're looking to live in one unit while generating rental income from the other, or seeking a turnkey investment in a growing neighbourhood, 631 Elias Street is an opportunity you won't want to miss. Conveniently located close to downtown, public transit, schools, parks, and all the shops, cafés, breweries, and restaurants that make Old East Village one of London's most exciting and evolving neighbourhoods. (id:4069)
Address
631 ELIAS STREET
List Price
$499,999
Property Type
Multi-family
Type of Dwelling
Duplex
Transaction Type
Sale
Area
Ontario
Sub-Area
London East (east G)
Bedrooms
3
Bathrooms
2
Floor Area
1500 - 2000 Sq. Ft.
Lot Size
27.5 x 150 FT Sq. Ft.
Lot Depth
150 ft
Frontage Length
27 ft ,6 in
MLS® Number
X13500776
Listing Brokerage
THE REALTY FIRM INC.
Basement Area
N/A (Unfinished)
Postal Code
N5W3N5
Zoning
R3-2
Parking Places (Total)
5
Site Influences
Park, Public Transit, Schools
Features
In-Law Suite
Community Features
School Bus
Appliances
Water Heater, Dryer, Stove, Washer, Refrigerator
Amenities
Fireplace(s), Separate Heating Controls, Separate Electricity Meters
Heat Source
Electric, Natural gas
Heat Type
Baseboard heaters, Forced air
Cooling Features
Window air conditioner
Fireplace
Yes
Number of Fireplaces
1
Foundation Details
Concrete
Other Structures
Deck, Porch
Number Of Floors In Building
1.5
Water Source
Municipal water
Sewer
Sanitary sewer
