For Sale: 1071-5 Florence Street, London, ON - REW
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$549,900
4 bd • 3 ba • 1100 - 1499 sf • Multifamily
1071-5 Florence Street
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$549,900
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1071.5 Florence StreetLondon, ON, N5W 2M7

East London
  • 4 Bed
  • 3 Bath
  • 1100 - 1499 Sqft
  • Multifamily

About this home

Exceptional Investment Opportunity - Legal Triplex with Strong Cash Flow & Future Upside! Own a fully legal two-storey triplex on a rare 37.09 ft x 168.63 ft lot in one of London's rapidly growing neighbourhoods. Certified by the City of London, this income-producing property offers immediate cash flow, low operating costs, and excellent long-term appreciation potential. Currently generating $3,289/month from the main floor ($1,689) and upper unit ($1,600 including parking), with only the basement unit remaining to be leased at $1,350/month, bringing the projected gross rental income to approximately $4,639/month ($55,668 annually). Property taxes are only $2,716/year, making this an attractive opportunity for investors. The impressive 168-foot-deep lot provides added privacy and future development potential, subject to municipal approvals. Ideally located with a bus stop at the doorstep and within walking distance to the Hard Rock Hotel, casino, restaurants, shopping, and entertainment district, this high-demand location continues to attract quality tenants. Major updates include a waterproofing membrane around the foundation (2021), interior drainage system, exterior painting, soundproofing between the main and upper floors, and a renovated main-floor kitchen (2022).Additional features include separate entrances, separate hydro meters, four parking spaces, coin-operated laundry for extra income, and a private tree-lined backyard with a paved patio and fire pit. Whether expanding your portfolio or purchasing your first investment property, this well-maintained legal triplex offers strong income, excellent upside, valuable updates, and outstanding long-term investment potential. (id:63626)
Listed by: SAIJAN VARGHESE MUTOONNY, Salesperson, RIGHT AT HOME REALTY

Home facts and features

Price details
List Price
$549,900
Get Pre-Approved
Gross Taxes for 2025
$2,716
Home facts
Bedrooms
4
Full Bathrooms
3
Parking Spaces
4
Parking Details
No Garage
Property Type
Multifamily
Depth
168.6 feet
Frontage
37.1 feet
Exterior Finish
Brick, Vinyl siding
Heating Type
Baseboard heaters, Electric
Basement Details
Finished, Full, Apartment in basement, Separate entrance, , ,
Features
Carpet Free
Appliances
Dryer, Refrigerator, Stove, Washer
Community
Agent details
Primary Agent
Primary Broker
RIGHT AT HOME REALTY
Listing details
Days on REW
47 Days
Property Views
11
MLS® Number
X13589054
Source
Canadian Real Estate Association
Board
London and St. Thomas Association of REALTORS®
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Property Insights

Académie de la Tamise
  • Public
  • JK - 6
Holy Cross School
  • Catholic
  • JK - 8
Trafalgar Public School
  • Public
  • JK - 8
St Mary School
  • Catholic
  • 5 - 8
Lester B Pearson School for the Arts
  • Public
  • 4 - 8
B Davison Secondary School
  • Public
  • 9 - 12
Aberdeen Public School
  • Public
  • JK - 8
East Carling Public School
  • Public
  • JK - 8
Blessed Sacrament School
  • Catholic
  • JK - 8
Ealing Public School
  • Public
  • JK - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
SAIJAN VARGHESE MUTOONNY
Phone:
519-601-5199
Cell:
226-448-2634
Office:
519-649-6900
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