466 Adelaide Street N, London - East (East G) ON

About 466 Adelaide Street N

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 No.1 (3 Bedroom) rented by the bedroom with Room No.1 generating $495/month and Room No.2 generating $600/month.Unit No.2 (1 Bedroom) currently rented for $995/month.Unit No.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 No.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 No.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. (id:56071). Get more information on 466 Adelaide Street N

Property Features

Rental Equipment:  
Directions:  Cross Streets: ADELAIDE AND QUEEN. ** Directions: SOUTH ON ADELAIDE FROM OXFORD. PROPERTY ON EAST SIDE BEFORE QUEEN.
Interior Size:  1500 - 2000 sqft
Lot:  50 x 150 FT 50 x 150 FT
Exterior Finish:  Vinyl siding
Water:  Municipal water, Sanitary sewer
Heating / Cooling:   Natural gas / None
Age: 
Foundation: Block, Poured Concrete
Basement:  N/A (Unfinished) Unfinished

Rooms & Sizes