500-502 COLBORNE STREET, London East (East F)
$1,300,000
For sale: Multiplex
- Property type
- Multiplex
- Bedrooms / bathrooms
- 11 bedrooms, 5 bathrooms
- Living area
- 100,000 sqft
- MLS®
- MLS® X13773394
- Neighbourhood
- East F
Five licensed units, $110,712 in gross annual income, and a City of London rental license already in hand - 500/502 Colborne is the rare Woodfield multiplex already doing the work for you. This five-unit brick building sits on a 45' x 105' lot minutes from downtown, transit at the door. Scheduled rents total $9,226/month across a 3 bed/2 bath, two 2 bed + dens, a 2 bed, and a 1 bed. Every unit is separately metered - tenants pay hydro, and both 502 units pay their own gas heat. Landlord costs run roughly $27,962 (taxes $13,678.72 verified with the City, insurance $7,983, water/sewer $4,200, gas $1,350, common electricity $750), leaving approximately $82,750 NOI - a cap rate near 6.4% at $1,300,000. The license matters as much as the income: a buyer inherits a legal, rentable five-plex on closing day, not a compliance project. All five units are tenanted and producing incredible rents with A+ tenants. Built 1905, over 5,500 sq ft, 9+2 bedrooms, five baths, five kitchens, one unit recently updated. In-suite and shared laundry, storage lockers, owned water heaters, walk-out lower level, parking for six. R3-2. Flexible possession.
Sold data
Homes in East F — recent sold market
Homes in East F took a median of 42 days to sell over the last 365 days, with the quickest quarter selling within 18 days and the slowest quarter taking more than 70, across 92 recorded sales.
That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 82 days.
The median sale price was $447,450.
Homes sold for about 3.6% below asking on average, so there was room to negotiate.
About 8% of sales closed above the list price.
Around 25% of sellers reduced their price before finding a buyer.
- Median days to sell
- 42
- Median sale price
- $447,450
- Sale-to-list ratio
- 96.4%
- Sold above asking
- 8%
Based on 92 recorded sales in the last 1 year — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.
Schools
Schools in London East (East F)
London East (East F) has 116 Fraser Institute–rated schools (97 elementary and 19 secondary), averaging 5.5/10.
- Rated schools
- 116
- Elementary
- 97
- Secondary
- 19
- Average rating
- 5.5 / 10
Top-rated schools in London East (East F)
- John Dearness — elementary, LondonFraser rating 9.8/10
- St George — elementary, LondonFraser rating 9.1/10
- Jack Chambers — elementary, LondonFraser rating 8.8/10
- Sir Arthur Currie — elementary, LondonFraser rating 8.8/10
- London Central — secondary, LondonFraser rating 8.7/10
- Ryerson — elementary, LondonFraser rating 8.7/10
School ratings from the Fraser Institute's Ontario school report cards.
Currently for sale
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