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    For Sale - 380-390 Princess Avenue, London East, Ontario

    Est payment $53,781/mo
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    Views   1
    Time on Jump  146 day

    AI Summary *

    • Two well-maintained buildings with a total of 88 modern rental units.
    • Strong cash flow supported by parking and laundry income.
    • Zero-interest loans available for affordable housing support.
    • Stable tenant base ensures predictable revenue for investors.
    • Minimal immediate capital expenditure needed for maintenance.




    Located at 380-390 princess avenue in london, ontario, this purpose-built multifamily asset comprises 88 rental units across two well-maintained buildings, completed in 2010 and 2017. The properties feature modern construction, efficient layouts, and stable cash flow supported by additional income from parking and on-site laundry facilities. The asset participates in a municipal contribution agreement (mca) with the city of london, which provides forgivable loans totaling approximately $9. 25 million. These zero-interest loans were advanced to support the delivery of affordable housing and are fully forgivable over time, provided the affordability requirements continue to be met. The remaining affordability periods extend to may 31, 2042 for 380 princess avenue and september 30, 2035 (phasing out from 2030) for 390 princess avenue. This municipal partnership ensures a stable tenant base and predictable revenue profile while aligning with growing demand for affordable rental housing in london. The buildings require minimal near-term capital expenditure and offer investors the opportunity to own a well-performing, government-supported housing asset with strong in-place income and long-term value appreciation potential once the affordability period concludes.
    Listing IDX12513726
    Address380-390 Princess Avenue
    CityLondon East, Ontario
    Price$11,200,000
    StyleInvestment
    Land Size0.84
    TypeIndustrial/Commercial
    StatusFor Sale

    Subtype InvestmentBasement 1Heating / Cooling Gas Forced Air ClosedSewer Sanitary+Storm

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    Listing Agency:  COLLIERS

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    380-390 Princess Avenue
    London East , Ontario
    $11,200,000
    Get more info