246 Greenwood Avenue
London South, ON
- 8 bed
- 4 bath
- approx. 2500-3000 sqft
- Fourplex
- 234 days on market
Purpose-built four-plex that has been comprehensively renovated with major capital systems addressed, including updated electrical and plumbing throughout, new windows, modern kitchens and bathrooms, full basement waterproofing in all four units, rebuilt walkways, and new paving-stone patios. Each unit currently offers two main-floor bedrooms and a full basement that has already been professionally roughed in for two additional bedrooms, a bathroom, and a family room. Basement completion is estimated at under $100,000 total and presents a clear value-add opportunity, with projected rental upside of approximately $740 per month per unit. Three units are currently leased at $1,800 per month plus utilities on a month to month basis with the understanding that the new owners may want vacant possession to finish the basements. At full occupancy at current rents, annual gross income is projected at $91,200. Upon basement completion, projected net operating income increases to approximately $109,154, resulting in an estimated 6.5% cap rate.
Listing Details
- Taxes (2025)
- $6,303
- Originally Listed
- $1,579,000
- Listed
- January 16, 2026
Price History
Property
- Style
- 1 Storey/Apt
- Age
- 51-99
- Construction
- Brick
- Roof
- Asphalt Shingle
- Foundation
- Poured Concrete
- Interior
- Rough-In Bath, Separate Hydro Meter, Water Heater, In-Law Capability
- Lot Size
- 53.7 x 249.85 Feet
Parking
- Garage
- None
- Covered Spaces
- 0
- Total Parking
- 8
Utilities
- Sewer
- Sewer
- Heat Source
- Electric
Location & Legal
- Cross Street
- Springbank Drive
- Parcel Number
- 083940572
- Possession
- Immediate
- Occupancy
- Partial
Schools
Elementary
- Kensal Park Public School0.2 km
Public · Thames Valley DSB · 670 students
Grade 3 reading: 65% met the provincial standard · Grade 6 math: 57% met the provincial standard
- École élémentaire catholique Frère André0.8 km
French Catholic · Conseil scolaire catholique Providence · 460 students
Grade 3 reading: 72% met the provincial standard · Grade 6 math: 76% met the provincial standard
- Woodland Heights Public School1 km
Public · Thames Valley DSB · 585 students
Grade 3 reading: 50% met the provincial standard · Grade 6 math: 51% met the provincial standard
Secondary
- Westminster Secondary School1.3 km
Public · Thames Valley DSB · 980 students
Grade 10 literacy: 75% met the provincial standard
- London South Collegiate Institute2.7 km
Public · Thames Valley DSB · 880 students
Grade 10 literacy: 73% met the provincial standard
- Saunders Secondary School3 km
Public · Thames Valley DSB · 2010 students
Grade 10 literacy: 70% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area N6J
- Population
- 27,497
- Private dwellings
- 13,174
- Median age
- 43.6
- Average household size
- 2.1
- Median household income
- $65,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Residential Freehold in London South · last 12 months
- Median sold price
- $585,000
- Homes sold
- 1,885
- Median days on market
- 27
- Sale-to-list price
- 97.4%
Based on 1,885 recorded sales of residential freehold properties in London South over the last 12 months.
Listed by
PRIME REAL ESTATE BROKERAGE
Walk Score
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Location
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Mortgage Calculator
$293,800
Estimated Monthly Payment
$7,217
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $7,217/mo (20% down, 5.5%)
Taxes: $525/mo · Insurance: $367/mo
Estimates only. Consult a financial advisor.
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