552 Adelaide Street N,London East, ON N6B 3J5
London East, ON N6B 3J5
Description
Great investment property close to downtown with short bus rides to both of Fanshawe College and Western University. Fully tenanted property with total rental income of $3600 per month (upper leased until Nov 2026 - $1450, and main is month to month - $2150) with tenants paying all utilities. Tenants are planning on staying. Fully funded this property has a capitalization rate about 5.5% meaning right from the start it is cash flow positive. Building was cleaned up and renovated in 2023 so very little can be expected in terms of maintenance fees for the next few years. Rents are slightly below market value meaning this building will perform more strongly and be an even better addition to your portfolio as time progresses. This yellow brick home sits on the edge of Woodfield and Old East Village. The main floor has 2 large bedrooms plus a basement with additional room. The upper has 1 bedroom plus den, both with in suite laundry. Property is being sold fully furnished excluding tenants belongings. Parking is at the rear of the building and access is off of Princess.
Details
| MLS # | X12890858 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 233 |
| Listing Provided By | SUTTON GROUP - SELECT REALTY | X12890858 798000 |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 |
| Basement | Y |
| Story(s) | 2 |
| Acreage | 0.09 |
Interior
| Interior Features | Primary Bedroom - Main Floor |
|---|---|
| Cooling | Central Air, Window Unit(s) |
| Heat Source | Electric |
| Fireplace Features | Fireplace Insert |
| Fireplace Yes / No | Yes |
Exterior
| Exterior Features | Deck, Patio |
|---|---|
| Roof | Asphalt Shingle, Metal |
| Foundation Details | Block |
| Construction Materials | Brick |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Sewer |
|---|
Taxes
| Tax Annual Amount | 2849 |
|---|---|
| Tax Legal Description | PART LOTS 1 AND 2 AND 5, PLAN 388(3RD) AS IN 799473; SUBJECT TO AND TOGETHER WITH 799473 LONDON |
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| County | Middlesex |
| City | London East |
| Postal Code | N6B 3J5 |
| Area | East G |
| Listing VS Median (in N6B 3J5) | |
Price: $639,000 low | high Med: $0 On site: 233 low | high Med: | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Middlesex |
| City | London East |
| Postal Code | N6B 3J5 |
| Area | East G |
| Listing VS Median (in N6B 3J5) | |
Price: $639,000 low | high Med: $0 On site: 233 low | high Med: | |
