CAONLondon466 Adelaide St N
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466 Adelaide St N, London, ON

House

Sold

$--,---,---
$199,900

638

MLS® X13090206

  • Key Facts
  • Description
  • Map

Key Facts

Type Triplex
Levels Residential
Size -
Garage None
Taxes $2,934
Lot Size 
Approx. Age 
MLS® Number X13090206

Property Address: 466 Adelaide St N, London, ON, N6B3H9

Average square foot calculated using Size range provided by listing agent.

Description

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.Show Description
MLS® NumberX13090206
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageNone
Approx. Age
BasementUnfinished
DrivewayGarage Type:None
Garage Spaces
Heat
A/C
Heating Fuel

Extras

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Commute

Starting Address
Destination Address
466 Adelaide St N, London, ON

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