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Royal LePage
Royal LePage
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$649,900

London East (East F) ON, N6B 3J6

MLS® # X12581310

Property Information:

551 Adelaide Street North presents a rare chance to own a well-maintained, solid brick fully tenanted triplex with versatile Arterial Commercial (AC2(4)) zoning in a prime, high-visibility location. This charming century property shows pride of ownership throughout, with major updates completed: shingles (2010), furnace (2016), windows (2007 and 2013), three electrical panels, and three owned hot water tanks.The building is fully rented to long-term, reliable tenants. Each unit includes its own washer and dryer, ensuring strong tenant satisfaction and consistent rental demand. The upper unit is a spacious 2-bedroom, 2 full-bathroom loft-style apartment with two private entrances, rented at $1,448.43/month inclusive. The main floor features a 1-bedroom plus den unit rented at $1,250/month inclusive, and the lower 1-bedroom unit is rented at $1,127.50/month inclusive.Situated on a deep 34x127 ft lot, the property offers flexibility for practical enhancements such as additional parking or storage solutions. Investors will appreciate the strong structure, stable income, and the potential to enhance returns through rent optimization, cosmetic updates, and operational efficiencies with utilities or insurance. Located on a major transit corridor and close to pharmacies, grocery stores, and the downtown core, this triplex is an excellent option for investors seeking reliable income in a desirable, commercially zoned location. A must-see for those looking to secure a versatile, income-producing asset. Full Financial Summary & Rent Roll Available. (id:27)

Building Features:

  • Style: Multiplex
  • Building Type: Triplex
  • Amenities: Separate Heating Controls, Separate Hydro Meters
  • Basement Type: N/A, N/A
  • Exterior Finish: Brick
  • Floor Space: 2000 - 2500 sqft
  • Foundation Type: Concrete
  • Heating Type: Forced air
  • Heating Fuel: Natural gas
  • Appliances: Dishwasher, Dryer, Stove, Washer, Refrigerator

Property Features:

  • Property Type: Multi-family
  • Bedrooms: 5
  • Bathrooms: 4
  • Amenities Nearby: Hospital, Park, Public Transit
  • Community Features: Community Centre, School Bus
  • Features: Flat site, Dry
  • Floor Space (approx): 2000 - 2500 Square Feet
  • Irregular: Yes
  • Lot Depth: 123.5 Feet
  • Lot Frontage: 34.0 Feet
  • Lot Size: 34 x 123.5 FT
  • Structure Type: Porch
  • Zoning: AC
  • Sewer: Sanitary sewer
  • Parking Type: No Garage
  • No. of Parking Spaces: 4

Courtesy of: CENTURY 21 FIRST CANADIAN CORP

REALTOR.ca  

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⚠ Potential Investment Performance

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Location of 551 ADELAIDE STREET N, London East (East F), Ontario, N6B 3J6

Demographic Information of 551 ADELAIDE STREET N, London East (East F), Ontario, N6B 3J6

Life Stage

Young Couples

Employment Type

Service Sector/White Collar

Average Household Income

$103,386.05

Average Number of Children

1.52

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

9.01 %

High school certificate or equivalent

27.73 %

Apprenticeship trade certificate/diploma

4.17 %

College/non-university certificate

22.71 %

University certificate (below bachelor)

1.46 %

University Degree

34.92 %

Commuter

Travel To Work

By Car

68.02 %

By Public Transit

10.63 %

By Walking

16.14 %

By Bicycle

2.25 %

By Other Methods

2.96 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

70.2 %

Houses

29.8 %

Own Vs. Rent

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