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    For Sale - 466 Adelaide Street, London East, Ontario

    Est payment $960/mo
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    Time on Jump  1 days

    AI Summary *

    • Licensed triplex in a prime London rental area with cash flow potential.
    • Three self-contained units offering varied options for tenants and their needs.
    • Ample on-site parking, a desirable feature for urban living.
    • Vacant unit has renovation potential for increased future rental income.
    • Strong rental demand supports long-term stability and appreciation opportunities.




    Legal licensed triplex in the heart of london - value-add multi-residential opportunity with strong upside potential. This licensed triplex offers investors a rare opportunity to acquire a cash-flowing asset with significant future income growth in one of london's most established urban rental corridors. The property features three self-contained units including a spacious 3-bedroom unit, a 1-bedroom unit, and a 2-bedroom unit, along with ample on-site parking - a highly desirable feature for tenants in the downtown core. Current rental configuration includes:unit #1 (3 bedroom) rented by the bedroom with room #1 generating $495/month and room #2 generating $600/month. Unit #2 (1 bedroom) currently rented for $995/month. Unit #3 (2 bedroom) is presently vacant and requires renovation but presents exceptional upside potential with estimated future market rent of approximately $1,600/month once updated. This property presents multiple value-add strategies including completing renovations to unit #3, optimizing the existing room-rental model, and increasing overall rental performance over time. Strong rental demand in the area supports long-term income stability and future appreciation potential. Ideal for investors, renovators, or portfolio builders seeking a compliant multi-unit property with immediate income and clear pathways to forced appreciation. Projected upside scenario:renovated unit #3 estimated at: $1,600/month current monthly income: $2,090current annual income: $25,080pro forma monthly income: $3,690 pro forma annual income: $44,280cap rate analysis (assuming ~30% operating expenses typical for triplexes)current noi: ~$17,556current cap rate (based on $199,900 asking price): ~8. 8%pro forma noi: ~$30,996pro forma cap rate (based on $199,900 asking price): ~15. 5%excellent opportunity to reposition and stabilize a licensed multi-family asset with substantial income upside in a high-demand london rental market.
    Listing IDX13090206
    Address466 Adelaide Street
    CityLondon East, Ontario
    Price$199,900
    Bed / Bath6 / 3 Full
    Style2-Storey, Triplex
    ConstructionVinyl Siding
    TypeMulti-Family
    StatusFor Sale

    Subtype TriplexIndoor Features OtherOwnership FreeholdBasement UnfinishedFoundation Concrete Block, Poured ConcreteHeating / Cooling Forced AirHeating Fuel GasSewer Sewer

    Parking 10.00
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    Listing Agency:  CENTURY 21 FIRST CANADIAN CORP

    * 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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    466 Adelaide Street
    London East , Ontario
    6 3 $199,900
    Get more info