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. (id:52373)
| MLS® Number | X12581310 |
| Property Type | Multi-family |
| Community Name | East F |
| Amenities Near By | Hospital, Park, Public Transit |
| Community Features | Community Centre, School Bus |
| Equipment Type | None |
| Features | Flat Site, Dry |
| Parking Space Total | 4 |
| Rental Equipment Type | None |
| Structure | Porch |
| Bathroom Total | 4 |
| Bedrooms Above Ground | 5 |
| Bedrooms Total | 5 |
| Amenities | Separate Heating Controls, Separate Electricity Meters |
| Appliances | Water Heater, Dishwasher, Dryer, Stove, Washer, Refrigerator |
| Basement Features | Apartment In Basement, Walk-up |
| Basement Type | N/a, N/a |
| Exterior Finish | Brick |
| Foundation Type | Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 3 |
| Size Interior | 2,000 - 2,500 Ft2 |
| Type | Triplex |
| Utility Water | Municipal Water |
| No Garage |
| Acreage | No |
| Land Amenities | Hospital, Park, Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 123 Ft ,6 In |
| Size Frontage | 34 Ft |
| Size Irregular | 34 X 123.5 Ft |
| Size Total Text | 34 X 123.5 Ft |
| Zoning Description | Ac |
https://www.realtor.ca/real-estate/29141779/551-adelaide-street-n-london-east-east-f-east-f
Contact us for more information
Scott Ralph
Salesperson
(519) 673-3390
Paige Mccann
Salesperson
(519) 673-3390
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