Rare opportunity to acquire a fully renovated, purpose-built five-unit apartment building in the highly sought-after Old South London neighbourhood, just minutes from Downtown, Victoria Hospital, and Wortley Village. This turnkey investment offers exceptional income potential with projected gross rents of approximately $10,000/month and four vacant units, allowing investors to establish market rents immediately.The building features an excellent unit mix of three spacious two-bedroom apartments and two one-bedroom units, with potential to convert the one-bedroom suites into additional two-bedroom layouts for increased revenue. Extensive renovations have eliminated deferred maintenance and include a new roof (2021), eavestroughs (2023), windows (2025), exterior insulation upgrades, attic insulation upgraded to R60, and private balconies for each unit.All suites have been modernized with open-concept layouts, updated kitchens with quartz countertops, renovated bathrooms, stainless steel appliances, in-suite laundry, individual heat-pump split AC systems, and enhanced soundproofing. Major infrastructure upgrades include new plumbing, updated electrical wiring, 400-amp service, and separate hydro meters, allowing tenants to pay their own utilities. Safety features include 60-minute fire-rated doors and a basement sprinkler system.Additional amenities include private storage lockers, a fully paved rear parking area for over eight vehicles, and EV-charger-ready infrastructure. This low-maintenance, high-yield asset offers strong cash flow, long-term appreciation potential, and a premium multifamily investment opportunity in one of London's most desirable rental markets. (id:61594)
| MLS® Number | X13243444 |
| Property Type | Multi-family |
| Community Name | South F |
| Amenities Near By | Hospital |
| Parking Space Total | 6 |
| Bathroom Total | 5 |
| Bedrooms Above Ground | 8 |
| Bedrooms Total | 8 |
| Age | 51 To 99 Years |
| Basement Features | Walk Out, Separate Entrance |
| Basement Type | N/a, N/a |
| Cooling Type | None |
| Foundation Type | Block |
| Heating Fuel | Natural Gas |
| Heating Type | Other |
| Stories Total | 2 |
| Size Interior | 2,500 - 3,000 Ft2 |
| Type | Other |
| Utility Water | Municipal Water |
| No Garage |
| Acreage | No |
| Land Amenities | Hospital |
| Sewer | Sanitary Sewer |
| Size Irregular | 47.2 X 147.1 Acre |
| Size Total Text | 47.2 X 147.1 Acre|under 1/2 Acre |
| Zoning Description | R2-2 |
https://www.realtor.ca/real-estate/29857028/140-ridout-street-s-london-south-south-f-south-f
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