REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 649,900
Est. payment /mo
New
551 Adelaide ST N London East, ON N6B 3J6
5 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000-2500
Subdivision East F
MLS Listing ID X12581310
Style 2 1/2 Storey
Bedrooms 5
Annual Tax Amount $4,244
Tax Year 2025
Property Sub-Type Triplex
Property Description
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.
Location
Province ON
County Middlesex
Community East F
Area Middlesex
Zoning AC
Rooms
Basement Apartment, Walk-Up
Kitchen 3
Interior
Interior Features Separate Heating Controls, Separate Hydro Meter, Water Heater Owned
Cooling Other
Inclusions Washer/Dryer x 3 (as is), Owned HWT x3, Refrigerator x3 (as is), Stove x3 (as is), Dishwasher x1(as is)
Exterior
Exterior Feature Porch, Year Round Living
Parking Features None
Pool None
Roof Type Shingles
Total Parking Spaces 4
Building
Foundation Concrete
Lited by CENTURY 21 FIRST CANADIAN CORP