Listed by Prime Real Estate Brokerage.

231 Greenwood Avenue is a Multiplex, 1 Storey/Apt and is currently for Sale @ $1,799,000. Taxes in 2025 were $6,136.00.

More homes for sale under 1.8M in London South

Purpose-built fourplex now converted to a 6-unit income property, with City-approved plans for an 8-unit build-out. The 1 Storey/Apt on 231 Greenwood Avenue has 14 bedrooms, 6 bathrooms, and is located on a 198 x 66 ft lot in the community of South D . All units are FULLY RENOVATED TOP TO BOTTOM, offering immediate cash flow with significant upside. Presently the 2 bedroom upper rented at $1800p/m plus utilities and two 2 bedroom lower units rented at $1600p/m plus utilities. The other two units are 2+1 bedrooms with a finished basements and lower levels roughed in for a 2nd bedroom and kitchen at $2100p/m plus utilities.. Water and Taxes are $11789 for 2025..Present Gross annual Income $132,000. Net income $114,919.83 representing a cap rate of 6.4...Potential Annual Income converting to 8 x 2 bedroom units is $163,200.00 with a potential net income of $146,119.03 representing a cap rate 8.2. Asking price includes updates to all units complete, OLT and City of London zoning approvals, permit and drawings in place with 8x2 development approximately 75% complete." Over $400,000 value upside potential based on developed property income.

The address 231 Greenwood Avenue was listed for sale (MLS# X12971596) on Wednesday, April 08, 2026.