551 ADELAIDE STREET N, London East (East F)

$624,900

For sale: Multiplex

Multiplex at 551 ADELAIDE STREET N, London East (East F)
Property type
Triplex
Bedrooms / bathrooms
5 bedrooms, 4 bathrooms
Living area
2,500 sqft
MLS®
MLS® X13029774
Neighbourhood
East F

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.

Sold data

Multiplex homes in London East (East F) — recent sold market

Multiplex homes in London East (East F) took a median of 40 days to sell over the last 365 days, with the quickest quarter selling within 21 days and the slowest quarter taking more than 78, across 122 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 Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 112 days.

The median sale price was $599,900.

Homes sold for about 3.8% below asking on average, so there was room to negotiate.

About 15% of sales closed above the list price.

Around 29% of sellers reduced their price before finding a buyer.

Median days to sell
40
Median sale price
$599,900
Sale-to-list ratio
96.2%
Sold above asking
15%

Based on 122 recorded sales in the last 1 year. 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

Homes for sale near 551 ADELAIDE STREET N