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    For Sale - 140 RIDOUT Street, London South, Ontario

    Est payment $8,643/mo
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    Views   4
    Time on Jump  137 day

    AI Summary *

    • Fully renovated five-unit apartment building in a prime Old South location.
    • Exceptional income potential with four vacant units ready for market rents.
    • Modernized units feature open-concept layouts and updated kitchens with quartz countertops.
    • Extensive infrastructure updates ensure low maintenance and high tenant satisfaction.
    • Paved parking area available for over eight vehicles with EV-charging capability.




    Rare opportunity to acquire a fully renovated, purpose-built five-unit apartment building in the highly sought-after old south london neighbourhood, just minutes from downtown, victoria hospital, and wortley village. This turnkey investment offers exceptional income potential with projected gross rents of approximately $10,000/month and four vacant units, allowing investors to establish market rents immediately. The building features an excellent unit mix of three spacious two-bedroom apartments and two one-bedroom units, with potential to convert the one-bedroom suites into additional two-bedroom layouts for increased revenue. Extensive renovations have eliminated deferred maintenance and include a new roof (2021), eavestroughs (2023), windows (2025), exterior insulation upgrades, attic insulation upgraded to r60, and private balconies for each unit. All suites have been modernized with open-concept layouts, updated kitchens with quartz countertops, renovated bathrooms, stainless steel appliances, in-suite laundry, individual heat-pump split ac systems, and enhanced soundproofing. Major infrastructure upgrades include new plumbing, updated electrical wiring, 400-amp service, and separate hydro meters, allowing tenants to pay their own utilities. Safety features include 60-minute fire-rated doors and a basement sprinkler system. Additional amenities include private storage lockers, a fully paved rear parking area for over eight vehicles, and ev-charger-ready infrastructure. This low-maintenance, high-yield asset offers strong cash flow, long-term appreciation potential, and a premium multifamily investment opportunity in one of london's most desirable rental markets.
    Listing IDX13243444
    Address140 RIDOUT Street
    CityLondon South, Ontario
    Price$1,799,900
    Bed / Bath8 / 5 Full
    Style2-Storey, Multiplex
    ConstructionOther
    TypeMulti-Family
    StatusFor Sale

    Subtype MultiplexIndoor Features OtherAmenities HospitalOwnership FreeholdWaterfront NoneBasement Walk-Out, Separate EntranceFoundation Block, Concrete BlockHeating / Cooling OtherHeating Fuel GasSewer Sewer

    Parking 6.00
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    Listing Brokerage: CENTURY 21 PERCY FULTON LTD.

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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