For Sale: 140 Ridout Street S, London, ON - REW
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$1,799,900
8 bd • 5 ba • 2500 - 2999 sf • Multifamily
140 Ridout Street S
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$1,799,900
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140 Ridout Street SLondon, ON, N6C 3X6

South London
  • 8 Bed
  • 5 Bath
  • 2500 - 2999 Sqft
  • Multifamily

About this home

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:63626)
Listed by: SEAN ROLAND, Broker, CENTURY 21 PERCY FULTON LTD.

Home facts and features

Price details
List Price
$1,799,900
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Gross Taxes for 2026
$6,969
Home facts
Bedrooms
8
Full Bathrooms
5
Parking Spaces
6
Parking Details
No Garage
Property Type
Multifamily
Depth
147.1 Acre
Heating Type
Natural gas, Other
Basement Details
Separate entrance, Walk out, ,
Community
Agent details
Primary Agent
Primary Broker
CENTURY 21 PERCY FULTON LTD.
Listing details
Days on REW
7 Days
MLS® Number
X13243444
Source
Canadian Real Estate Association
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25 Years
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Property Insights

London South Collegiate Institute
  • Public
  • 9 - 12
St Martin School
  • Catholic
  • JK - 8
Wortley Road Public School
  • Public
  • JK - 8
Tecumseh Public School
  • Public
  • JK - 8
Victoria Public School
  • Public
  • JK - 8
Mountsfield Public School
  • Public
  • JK - 8
St. John French Immersion School
  • Catholic
  • JK - 8
Holy Rosary School
  • Catholic
  • JK - 8
Aberdeen Public School
  • Public
  • JK - 8
Catholic Central High School
  • Catholic
  • 9 - 12
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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Broker
SEAN ROLAND
Phone:
416-298-8200
Office:
416-298-8200
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