1563 DALE STREET, London East (East H), Ontario, N5V1Y1
MLS: X12949542 | House (Freehold)
$449,900
Property Description
Calling all investors and contractors! This is your chance to acquire a value-add handyman special with incredible upside potential just 1.2 kilometers from Fanshawe College campus. This 3+2 bedroom bungalow presents a rare opportunity to force equity through strategic improvements while generating immediate cash flow from existing tenants. The property is currently 80% rented and is priced for your sweat equity - expect to invest in upgrades throughout to unlock its full potential. The lower unit features a kitchen with separate entrance and shared laundry configuration, providing immediate rental income while you execute your value-add strategy. What makes this property particularly exciting is the potential to build a detached Additional Dwelling Unit (ADU) in the rear yard under London's new zoning policies. With proper lot dimensions and coverage calculations, you could potentially add a brand-new 600-800 sq ft standalone dwelling unit behind the existing house, dramatically increasing the property's income potential and overall value. This strategy allows you to maximize your investment by creating a modern, secondary dwelling that commands premium rents while maintaining the existing house. Imagine the possibilities: renovate the main house, optimize the current suite configuration, and add a brand-new detached ADU - creating a true income-generating powerhouse. Being within walking/biking distance to Fanshawe College ensures consistent rental demand year after year, making this an ideal hold-and-build investment. This is a build-your-wealth opportunity for hands-on investors who understand the value of forced appreciation and aren't afraid to roll up their sleeves. Perfect for contractors looking to leverage their skills or savvy investors with renovation connections ready to unlock this property's full potential. (id:64974)
Quick Facts
- Property Type: House (Freehold)
- Style: Bungalow
- Bedrooms: 5 (3 above, 2 below)
- Bathrooms: 2
- Ownership: Freehold
- Attached: No
- Parking: 6.0 spaces (No Garage)
- Frontage: 53 ft (16.2 m)
Costs
- Annual Taxes: $3,202.00
Listing Provided by: TEAM GLASSER REAL ESTATE BROKERAGE INC.
Board: London and St. Thomas Association of REALTORS®
Data provided via CREA DDF®.
Detailed Features
Interior & Systems
- Heating: Forced air, Natural gas
- Cooling: Central air conditioning
- Basement: Finished, Separate entrance, N/A, N/A
- Appliances: All
Exterior & Construction
- Style: Bungalow
- Exterior: Brick Veneer
- Foundation: Poured Concrete
- Sewer: Sanitary sewer
- Water: Municipal water
Lot & Land
- Frontage: 53 ft (16.2 m)
- Features: In-Law Suite
- Zoning: R1-6
Community & Neighbourhood
- Neighbourhood: East H
Room Details (6 rooms)
Listing Information
Listing History
MLS listing activity for 1563 DALE STREET, London East (East H), Ontario, N5V1Y1 — dates reflect when changes were recorded in the DDF
🚗 Travel times
Neighborhood Walkability
Mortgage & Cost Calculators
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1563 DALE STREET, London East (East H), Ontario, N5V1Y1