1071.5 Florence Street,London East (East M), ON N5W2M7
London East (East M), ON N5W2M7
Description
Exceptional Investment Opportunity - Legal Triplex with Strong Cash Flow & Future Upside! Own a fully legal two-storey triplex on a rare 37.09 ft x 168.63 ft lot in one of London's rapidly growing neighbourhoods. Certified by the City of London, this income-producing property offers immediate cash flow, low operating costs, and excellent long-term appreciation potential. Currently generating $3,289/month from the main floor ($1,689) and upper unit ($1,600 including parking), with only the basement unit remaining to be leased at $1,350/month, bringing the projected gross rental income to approximately $4,639/month ($55,668 annually). Property taxes are only $2,716/year, making this an attractive opportunity for investors. The impressive 168-foot-deep lot provides added privacy and future development potential, subject to municipal approvals. Ideally located with a bus stop at the doorstep and within walking distance to the Hard Rock Hotel, casino, restaurants, shopping, and entertainment district, this high-demand location continues to attract quality tenants. Major updates include a waterproofing membrane around the foundation (2021), interior drainage system, exterior painting, soundproofing between the main and upper floors, and a renovated main-floor kitchen (2022).Additional features include separate entrances, separate hydro meters, four parking spaces, coin-operated laundry for extra income, and a private tree-lined backyard with a paved patio and fire pit. Whether expanding your portfolio or purchasing your first investment property, this well-maintained legal triplex offers strong income, excellent upside, valuable updates, and outstanding long-term investment potential. (id:13843)
Details
| MLS # | X13589054 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 105 |
| Listing Provided By | RIGHT AT HOME REALTY | SAIJAN VARGHESE MUTOONNY |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 1,100 |
| Basement | Y |
| Story(s) | 2 |
| Zoning | R2-2 |
Interior
| Cooling | None |
|---|---|
| Heating | Baseboard heaters, Electric |
| Appliances | Washer, Refrigerator, Stove, Dryer |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Carpet Free |
|---|---|
| Foundation Details | Block |
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 4 |
Utilities
| Utilities | Sewer, Electricity |
|---|---|
| Sewer | Sanitary sewer |
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 2716 |
|---|---|
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| City | London East (East M) |
| Postal Code | N5W2M7 |
| Listing VS Median (in N5W2M7) | |
Price: $549,900 low | high Med: $549,900 sqft: 1,100 low | high Med: 1,100 $ / sqft: $500 low | high Med: $500 On site: 105 low | high Med: 105 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | London East (East M) |
| Postal Code | N5W2M7 |
| Listing VS Median (in N5W2M7) | |
Price: $549,900 low | high Med: $549,900 sqft: 1,100 low | high Med: 1,100 $ / sqft: $500 low | high Med: $500 On site: 105 low | high Med: 105 | |