4 Elmwood Place London South, Ontario N6J 1J2
$575,000
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. (id:63476)
Property Details
| MLS® Number | X13746210 |
| Property Type | Single Family |
| Community Name | South E |
| Amenities Near By | Park, Public Transit |
| Community Features | School Bus |
| Features | Cul-de-sac, Ravine, Level, Carpet Free, Sump Pump |
| Parking Space Total | 7 |
| Structure | Deck, Workshop |
Building
| Bathroom Total | 1 |
| Bedrooms Above Ground | 2 |
| Bedrooms Total | 2 |
| Age | 100+ Years |
| Amenities | Separate Electricity Meters |
| Appliances | Water Heater, Alarm System, Dishwasher, Dryer, Microwave, Stove, Washer, Refrigerator |
| Architectural Style | Bungalow |
| Basement Development | Unfinished |
| Basement Type | Full (unfinished) |
| Construction Status | Insulation Upgraded |
| Construction Style Attachment | Detached |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Wood |
| Fire Protection | Security System, Smoke Detectors |
| Foundation Type | Poured Concrete |
| Heating Fuel | Electric, Natural Gas |
| Heating Type | Forced Air, Heat Pump |
| Stories Total | 1 |
| Size Interior | 1,100 - 1,500 Sqft |
| Type | House |
| Utility Water | Municipal Water |
Parking
| Detached Garage | |
| Garage |
Land
| Acreage | No |
| Fence Type | Fully Fenced, Fenced Yard |
| Land Amenities | Park, Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 136 Ft |
| Size Frontage | 40 Ft ,1 In |
| Size Irregular | 40.1 X 136 Ft |
| Size Total Text | 40.1 X 136 Ft |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Basement | Utility Room | 12.9 m | 5.84 m | 12.9 m x 5.84 m |
| Ground Level | Foyer | 1.88 m | 1.5 m | 1.88 m x 1.5 m |
| Ground Level | Family Room | 5.77 m | 2.59 m | 5.77 m x 2.59 m |
| Ground Level | Dining Room | 2.82 m | 2.92 m | 2.82 m x 2.92 m |
| Ground Level | Kitchen | 3.99 m | 2.92 m | 3.99 m x 2.92 m |
| Ground Level | Laundry Room | 1.85 m | 1.93 m | 1.85 m x 1.93 m |
| Ground Level | Bedroom | 3.05 m | 2.69 m | 3.05 m x 2.69 m |
| Ground Level | Bedroom 2 | 3.05 m | 2.69 m | 3.05 m x 2.69 m |
| Ground Level | Workshop | 7.92 m | 6.1 m | 7.92 m x 6.1 m |
Utilities
| Cable | Installed |
| Electricity | Installed |
| Sewer | Installed |
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September 04 2026 10:50:38
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