194 Furnival Road

Introducing a remarkable opportunity with this Multi-Family Home for sale in West Elgin , located at 194 Furnival Road, West Elgin. This property is a vacant possession triplex, offering immense value-add potential, development possibilities, and severance opportunities on over 2.5 acres of prime land. Situated just minutes from Highway 401 and approximately 30 minutes from London, this multiplex is ideally positioned for both investors and end-users alike.

The building, which boasts a charming 2-storey style and is clad in durable vinyl siding, comprises a total of 18 rooms, including six spacious bedrooms and three well-appointed bathrooms. Each of the three kitchens is functional and ready for use, making this Multi-Family Home for sale in West Elgin an excellent choice for those seeking immediate rental income. Notably, two of the three units are turnkey and ready for immediate occupancy, while the third unit presents a significant opportunity for enhancement, perfect for a strategic forced appreciation approach.

At 194 Furnival Road, West Elgin, the potential for maximising your investment is substantial. The high-ceiling basement, which is currently unfinished, features a separate entrance and could be transformed into two additional units, thus creating a five-unit cash-flow powerhouse. This feature alone sets this property apart from others in the market, making it a prime candidate for those looking to expand their portfolio or secure a lucrative investment.

The expansive lot, measuring 66 by 121 feet, provides ample space for potential severance or commercial development right in the heart of Rodney. This Multi-Family Home for sale in West Elgin is not just a property; it is a strategic project waiting to be realised. With M1 Commercial Zoning, the possibilities for development are extensive, making this an attractive proposition for savvy investors.

In terms of amenities, 194 Furnival Road, West Elgin, is equipped with essential utilities, including municipal water and sewer connections. The property features a private double driveway with parking space for up to four vehicles, ensuring convenience for residents and guests alike. Although there is no central vacuum system, air conditioning, or pool, the property does include a family room, providing a welcoming space for gatherings and relaxation.

This Multi-Family Home for sale in West Elgin is unfurnished, allowing new owners the flexibility to personalise the space to their liking. The heating is provided by a forced air system, ensuring warmth during the colder months. The absence of a fireplace may be noted, but the potential for creating a warm and inviting atmosphere remains high, particularly with the right design choices.

The location of 194 Furnival Road, West Elgin, is another highlight. Within walking distance to local shops and amenities, residents will appreciate the convenience of having essential services nearby. Additionally, the property is just a short ten-minute drive from the New Glasgow Yacht Club and the beautiful beaches of Port Glasgow, making it an ideal spot for those who enjoy outdoor activities and leisure.

In conclusion, this Multi-Family Home for sale in West Elgin presents a unique investment opportunity with its strategic location, development potential, and existing rental income. Whether you are an investor looking for a project with substantial future equity growth or an end-user seeking a property that can significantly assist with mortgage payments, 194 Furnival Road, West Elgin, is the ideal choice. Don’t miss out on this exceptional opportunity to secure a property with immense potential in a thriving community.

Rodney, nestled within the charming municipality of West Elgin, is a quaint and picturesque community that offers a delightful blend of rural tranquillity and small-town charm. Surrounded by lush farmland and scenic landscapes, this close-knit geographic entity is characterised by its friendly atmosphere and welcoming residents. With essential amenities, local shops, and recreational facilities, Rodney provides a comfortable lifestyle while maintaining a strong sense of community spirit. The area is perfect for those seeking a peaceful retreat, yet it remains conveniently located for easy access to larger urban centres, making it an ideal place for families and individuals alike.

Schools in the Neighbourhood

The property is conveniently located near Aldborough Public School, an esteemed elementary institution situated just 1.3 kilometers away at 11443 Furnival Rd, Rodney, within the West Elgin area. Operated under the Thames Valley District School Board, this public school offers education from Junior Kindergarten through to Grade 8, providing a solid foundation for young learners. The language of instruction is English, ensuring that students are well-prepared for future academic pursuits. With a school rating of 3.5, Aldborough Public School is recognized for its commitment to fostering a supportive and enriching environment for children. Its proximity to the property makes it an ideal choice for families seeking quality education options within a short distance. This accessibility not only enhances the convenience of daily commutes for parents and students but also adds value to the property, making it an attractive option for potential buyers looking to settle in a community that prioritizes education. Overall, the nearby Aldborough Public School is a significant asset for families considering this property, offering both quality education and a nurturing environment for young learners.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 492 residents, with an average household size of 2.4 individuals. The demographic profile indicates an average age of 42.3 years, reflecting a mature community. The average household income stands at $69,000, with 10.8% of the population classified as low-income. Housing prices in the area average around $385,000, making it a moderately priced market. Notably, 35.8% of residents are single, and a significant 41.94% of households include children, suggesting a family-friendly environment. The community also has a modest immigrant presence at 5.5%. Renters constitute 15% of the population, while there are no condominiums available in the area. Educational attainment is relatively high, with 30.49% of residents holding a college or university degree. However, a considerable portion of the population, 34.15%, is not actively participating in the labor force. Overall, this area presents a blend of family-oriented living with a diverse demographic profile, making it an appealing location for potential homeowners and investors alike.