246 Greenwood Ave

About this Property

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. Two 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

MLS #

X14159824

Board

PROPTX

Market

ontario

Property Type

Fourplex

Style

1 Storey/Apt

Garage

None

Parking Spaces

8

Basement

Part Fin

Heating

Heat Pump

Cooling

Wall Unit

Pool

None

Lot Size

55 × 249.85 ft

Annual Taxes

$6,303/yr

Listed By

PRIME REAL ESTATE BROKERAGE

Listed On

November 6, 2026