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    For Sale - 196-198 Clarence Street, London East, Ontario

    Est payment $3,553/mo
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    Views   1
    Time on Jump  41 day

    AI Summary *

    • Two separate lots fully approved and ready for an 8-unit redevelopment.
    • Potential housing incentives offering up to $45,000 per unit available.
    • Estimated annual gross revenue of approximately $134,400 from projected rents.
    • Conveniently located near Downtown London with easy access to amenities.
    • Complete plans and due diligence package available for interested buyers.




    196-198 clarence street consists of two separate lots and is fully approved and ready to build, with plans, permits and due diligence completed, making this a true shovel-ready 8-unit redevelopment opportunity. City of london housing incentives may provide a forgivable loan of up to $45,000 per qualifying unit, representing potential funding of up to $360,000, subject to program availability, eligibility requirements and municipal approval. Based on projected rents of $1,250 per unit, plus anticipated parking and locker income, the completed project could generate approximately $134,400 in annual gross revenue and projected noi of approximately $108,920. At stabilization, this supports an estimated value of approximately $2,178,400 at a 5% capitalization rate or $1,815,333 at a 6% capitalization rate. Once completed and stabilized, the property may also qualify for cmhc mli select financing, subject to applicable program and lender requirements. The property is conveniently located near downtown london, transit, employment, shopping and amenities. Complete plans and due diligence package are available upon request. All projections, incentives and financing opportunities are estimates only and should be independently verified by the purchaser.
    Listing IDX13784218
    Address196-198 Clarence Street
    CityLondon East, Ontario
    Price$739,999
    StyleInvestment
    TypeIndustrial/Commercial
    StatusFor Sale

    Subtype InvestmentHeating / Cooling None

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    Listing Brokerage: EXP REALTY

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    196-198 Clarence Street
    London East , Ontario
    $739,999
    Get more info