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    For Sale - 4 Elmwood Place, London South, Ontario

    Est payment $2,761/mo
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    Time on Jump  1 days

    AI Summary *

    • Updated 2-bedroom bungalow in desirable Manor Park, perfect for various buyers.
    • Potential for additional rental income with approved plans for a 2-bedroom ADU.
    • Heated detached garage/shop with separate utilities, great for hobbies or business.
    • Private fenced backyard and wood deck for outdoor enjoyment and relaxation.
    • Conveniently located near downtown, parks, shopping, restaurants, and transit options.




    Attention investors, tradespeople, buyers working from home or anyone seeking a mortgage helper. Welcome to 4 elmwood place, an updated 2-bedroom bungalow in desirable manor park. The $575,000 asking price is for the property as it currently sits. The accessory dwelling unit has not been built, and its construction cost is additional. A building permit has been issued for a detached 838 sq. Ft., 2-bedroom adu, with plans available. Estimated construction cost is approximately $200,000, and projected rent once completed is $1,950 per month. The main house currently rents for $1,950 per month. The heated and insulated 21'6" x 26' detached garage/shop has a separate hydro meter, electric heat, water, cctv and security system. With projected rent of $1,100 per month, it is ideal for a hobbyist, workshop or home-based business. Once the adu is completed, projected gross rental income is approximately $5,000 per month or $60,000 annually. Based on the worksheet assumptions, annual positive cash flow is projected at $11,262 before vacancy, maintenance and management. First-year principal reduction is projected at $14,269, for a combined first-year benefit of approximately $25,531. A full income, expense, cash-flow and mortgage-amortization projection worksheet is available. The renovated home offers two bedrooms, a laundry room, an oversized 5-piece bathroom with a custom double vanity, plus an updated kitchen with modern countertops and four stainless steel appliances. The original fireplace is a decorative focal point but is not in use. Improvements include a new furnace and heat-pump/air-conditioning system installed in 2023, upgraded electrical and plumbing, updated windows and lighting, luxury vinyl plank flooring, ceramic tile in 2017, and a metal roof in 2019. Enjoy a private fenced backyard and wood deck, minutes from downtown london, parks, trails, shopping, restaurants and transit.
    Listing IDX13746210
    Address4 Elmwood Place
    CityLondon South, Ontario
    Price$575,000
    Bed / Bath2 / 1 Full
    StyleBungalow, Detached
    ConstructionBoard & Batten
    TypeResidential
    StatusFor Sale

    Subtype DetachedIndoor Features Carpet Free, Primary Bedroom - Main Floor, Separate Hydro Meter, Storage, Sump Pump, Upgraded Insulation, Water Heater OwnedOutdoor Features Deck, PrivacyAmenities Cul de Sac/Dead End, Fenced Yard, Park, Public Transit, Ravine, School Bus RouteOwnership FreeholdBasement Full, UnfinishedFoundation Poured ConcreteHeating / Cooling Forced AirHeating Fuel ElectricSewer Sewer

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    Listing Agency:  CENTURY 21 FIRST CANADIAN CORP

    * 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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    4 Elmwood Place
    London South , Ontario
    2 1 $575,000
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