551 Adelaide Street N, London East (East F) ON

About 551 Adelaide Street N

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. (id:56071). Get more information on 551 Adelaide Street N

Property Features

Appliances:  Water Heater, Dishwasher, Dryer, Stove, Washer, Refrigerator
Features:  Flat site, Dry
Rental Equipment:  None
Directions:  Cross Streets: Adelaide & Princess. ** Directions: Heading South on Adelaide Street North Past Oxford, Just After Rosedale St.
Zoning Description:  AC
Interior Size:  2000 - 2500 sqft
Community Features:  Community Centre, School Bus
Amenities:  Separate Heating Controls, Separate Electricity Meters
Lot:  34 x 123.5 FT 34 x 123.5 FT
Exterior Finish:  Brick
Water:  Municipal water, Sanitary sewer
Heating / Cooling:   Natural gas /
Age: 
Foundation: Concrete
Basement:  N/A, N/A

Rooms & Sizes