551 Adelaide ST N new Save Request In-Person Tour Request Virtual Tour
London East,ON N6B 3J6
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000-2500
Subdivision East F
MLS Listing ID X12581310
Style 2 1/2 Storey
Bedrooms 5
Annual Tax Amount $4,244
Tax Year 2025
Property Sub-Type Triplex
Property 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.
Location
Province ON
County Middlesex
Community East F
Area Middlesex
Rooms
Family Room Yes
Basement Apartment,Walk-Up
Kitchen 3
Interior
Interior Features Separate Heating Controls,Separate Hydro Meter,Water Heater Owned
Cooling Other
Fireplace No
Heat Source Gas
Exterior
Exterior Feature Porch,Year Round Living
Parking Features Private
Pool None
Roof Type Shingles
Topography Dry,Flat
Lot Frontage 34.0
Lot Depth 123.54
Total Parking Spaces 4
Building
Unit Features Hospital,Library,Park,Public Transit,Rec./Commun.Centre,School Bus Route
Foundation Concrete
Others
ParcelsYN No