551 Adelaide Street N,London East (East F), ON N6B3J6
London East (East F), ON N6B3J6
Description
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:13843)
Details
| MLS # | X13029774 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 120 |
| Listing Provided By | CENTURY 21 FIRST CANADIAN CORP | PAIGE MCCANN |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 2,000 |
| Basement | Y |
| Story(s) | 2 |
| Zoning | AC |
Exterior
| Lot Features | Flat site, Dry |
|---|
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 4 |
Taxes
| Tax Annual Amount | 4244 |
|---|
Area Information
| Province | ON |
|---|---|
| City | London East (East F) |
| Postal Code | N6B3J6 |
| Listing VS Median (in N6B3J6) | |
Price: $624,900 low | high Med: $624,900 sqft: 2,000 low | high Med: 2,000 $ / sqft: $312 low | high Med: $312 On site: 120 low | high Med: 120 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | London East (East F) |
| Postal Code | N6B3J6 |
| Listing VS Median (in N6B3J6) | |
Price: $624,900 low | high Med: $624,900 sqft: 2,000 low | high Med: 2,000 $ / sqft: $312 low | high Med: $312 On site: 120 low | high Med: 120 | |
