For Sale: 196-198 Clarence Street, London, ON - REW
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$739,999
0 bd • ba • sf • Multifamily
196-198 Clarence Street
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$739,999
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196-198 Clarence StreetLondon, ON, N6B 2J7

Central London
  • 0 Bed
  • Bath
  • Sqft
  • Multifamily

About this home

196-198 Clarence Street consists of two separate lots and is fully approved and ready to build, with plans, permits and due diligence completed, making this a true shovel-ready 8-unit redevelopment opportunity. City of London housing incentives may provide a forgivable loan of up to $45,000 per qualifying unit, representing potential funding of up to $360,000, subject to program availability, eligibility requirements and municipal approval. Based on projected rents of $1,250 per unit, plus anticipated parking and locker income, the completed project could generate approximately $134,400 in annual gross revenue and projected NOI of approximately $108,920. At stabilization, this supports an estimated value of approximately $2,178,400 at a 5% capitalization rate or $1,815,333 at a 6% capitalization rate. Once completed and stabilized, the property may also qualify for CMHC MLI Select financing, subject to applicable program and lender requirements. The property is conveniently located near Downtown London, transit, employment, shopping and amenities. Complete plans and due diligence package are available upon request. All projections, incentives and financing opportunities are estimates only and should be independently verified by the purchaser. (id:63626)
Listed by: Rami Rahy, Salesperson, EXP REALTY

Home facts and features

Price details
List Price
$739,999
Get Pre-Approved
Gross Taxes for 2026
$2,245
Home facts
Bedrooms
0
Full Bathrooms
Property Type
Multifamily
Lot Size
57 ft x 0 ft (5924 ft²)
Depth
Frontage
57.0 feet
Heating Type
No heat
Community
Agent details
Primary Agent
Rami Rahy
Primary Broker
EXP REALTY
Secondary Agent
JUAN VELEZ
Secondary Broker
EXP REALTY
Listing details
Days on REW
1 Day
MLS® Number
X13784218
Source
Canadian Real Estate Association
Board
London and St. Thomas Association of REALTORS®
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Amortization
25 Years
Interest Rate
3.99%

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Property Insights

St. John French Immersion School
  • Catholic
  • JK - 8
London South Collegiate Institute
  • Public
  • 9 - 12
Tecumseh Public School
  • Public
  • JK - 8
Catholic Central High School
  • Catholic
  • 9 - 12
St Martin School
  • Catholic
  • JK - 8
London Central Secondary School
  • Public
  • 9 - 12
Aberdeen Public School
  • Public
  • JK - 8
H B Beal Secondary School
  • Public
  • 9 - 12
Wortley Road Public School
  • Public
  • JK - 8
Victoria 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
Rami Rahy
Phone:
519-636-7996
Office:
866-530-7737
Salesperson
JUAN VELEZ
Office:
866-530-7737
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