LEGAL LICENSED TRIPLEX IN THE HEART OF LONDON - VALUE-ADD MULTI-RESIDENTIAL OPPORTUNITY WITH STRONG UPSIDE POTENTIAL. This licensed triplex offers investors a rare opportunity to acquire a cash-flowing asset with significant future income growth in one of London's most established urban rental corridors. The property features three self-contained units including a spacious 3-bedroom unit, a 1-bedroom unit, and a 2-bedroom unit, along with ample on-site parking - a highly desirable feature for tenants in the downtown core. Current rental configuration includes:Unit #1 (3 Bedroom) rented by the bedroom with Room #1 generating $495/month and Room #2 generating $600/month.Unit #2 (1 Bedroom) currently rented for $995/month.Unit #3 (2 Bedroom) is presently vacant and requires renovation but presents exceptional upside potential with estimated future market rent of approximately $1,600/month once updated. This property presents multiple value-add strategies including completing renovations to Unit #3, optimizing the existing room-rental model, and increasing overall rental performance over time. Strong rental demand in the area supports long-term income stability and future appreciation potential. Ideal for investors, renovators, or portfolio builders seeking a compliant multi-unit property with immediate income and clear pathways to forced appreciation.Projected Upside Scenario:Renovated Unit #3 estimated at: $1,600/month Current Monthly Income: $2,090Current Annual Income: $25,080Pro Forma Monthly Income: $3,690 Pro Forma Annual Income: $44,280Cap Rate Analysis (Assuming ~30% operating expenses typical for triplexes)Current NOI: ~$17,556Current Cap Rate (Based on $199,900 asking price): ~8.8%Pro Forma NOI: ~$30,996Pro Forma Cap Rate (Based on $199,900 asking price): ~15.5%Excellent opportunity to reposition and stabilize a licensed multi-family asset with substantial income upside in a high-demand London rental market. (id:61594)
| MLS® Number | X13090206 |
| Property Type | Multi-family |
| Community Name | East G |
| Parking Space Total | 10 |
| Bathroom Total | 3 |
| Bedrooms Above Ground | 6 |
| Bedrooms Total | 6 |
| Basement Development | Unfinished |
| Basement Type | N/a (unfinished) |
| Cooling Type | None |
| Exterior Finish | Vinyl Siding |
| Foundation Type | Block, Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 1,500 - 2,000 Ft2 |
| Type | Triplex |
| Utility Water | Municipal Water |
| No Garage |
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 150 Ft |
| Size Frontage | 50 Ft |
| Size Irregular | 50 X 150 Ft |
| Size Total Text | 50 X 150 Ft |
https://www.realtor.ca/real-estate/29708448/466-adelaide-street-n-london-east-east-g-east-g
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