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    For Sale - 551 Adelaide Street, London East, Ontario

    Est payment $3,121/mo
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    Time on Jump  124 day

    AI Summary *

    • Solid brick triplex with reliable, long-term tenants providing steady income.
    • Versatile Arterial Commercial zoning opens up various potential uses.
    • Significant updates completed, ensuring a well-maintained property.
    • Spacious upper unit with two private entrances adds value.
    • Convenient location near transit, shops, and downtown amenities.




    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.
    Listing IDX12581310
    Address551 Adelaide Street
    CityLondon East, Ontario
    Price$649,900
    Bed / Bath5 / 4 Full
    Style2 1/2 Storey, Triplex
    ConstructionBrick
    TypeMulti-Family
    StatusFor Sale

    Subtype TriplexIndoor Features Separate Heating Controls, Separate Hydro Meter, Water Heater OwnedOutdoor Features Porch, Year Round LivingAmenities Hospital, Library, Park, Public Transit, Rec./Commun.Centre, School Bus RouteOwnership FreeholdBasement Apartment, Walk-UpFoundation ConcreteHeating / Cooling Forced AirHeating Fuel GasSewer Sewer

    Parking 4.00
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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.

    Hospital
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    551 Adelaide Street
    London East , Ontario
    5 4 $649,900
    Get more info