For Sale: 46 Stanley Street, London, ON - REW
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$599,900
4 bd • 4 ba • 2000 - 2499 sf • Multifamily
46 Stanley Street
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$599,900
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46 Stanley StreetLondon, ON, N6C 1B1

South London
  • 4 Bed
  • 4 Bath
  • 2000 - 2499 Sqft
  • Multifamily

About this home

Positioned on the edge of downtown, this is a prime opportunity to acquire a solid income-producing asset. With strong rental demand and proximity to the core, this is the type of property that supports both stable occupancy and long-term growth. The building consists of four 1-bedroom units, three of which have been recently renovated - allowing you to step into improved rents and reduced capital expenditure from day one. Two units are currently vacant, offering immediate flexibility: place your own tenants at market rents or take the opportunity to further upgrade and push value. Current gross monthly income is approximately $5,052, comprised of in-place rents and projected rents for the vacant units, with a clear path to ~$5,680 based on market rents with value added. At that level, the property is projected to operate around a 7.0% cap rate, with upside closer to the 8.2% range as rents are stabilized and value is added. Operating expenses are well-defined at roughly $1,923/month, resulting in a current NOI of ~$3,128/month and a projected NOI of ~$3,750+/month once rents are optimized. Depending on financing, this deal shows estimated monthly cash flow in the range of ~$500-$750 with current/projected rents, depending on execution. A major differentiator here is the ample on-site parking-something that's increasingly difficult to find this close to downtown and a key factor in tenant retention. Whether you're looking for a performing asset with immediate income or a property where you can still create value through leasing and light improvements, 46 Stanley offers a clean, straightforward path to both. (id:63626)
Listed by: JUSTIN KONIKOW, Salesperson, PRIME REAL ESTATE BROKERAGE

Home facts and features

Price details
List Price
$599,900
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Gross Taxes for 2025
$3,990
Home facts
Bedrooms
4
Full Bathrooms
4
Parking Spaces
4
Parking Details
No Garage
Property Type
Multifamily
Depth
185 feet
Frontage
33.0 feet
Exterior Finish
Brick, Vinyl siding
Heating Type
Forced air, Natural gas
Basement Details
Unfinished,
Appliances
Dryer, Refrigerator, Stove, Washer
Community
Agent details
Primary Agent
JUSTIN KONIKOW
Primary Broker
PRIME REAL ESTATE BROKERAGE
Secondary Agent
NATHAN SMITH
Secondary Broker
PRIME REAL ESTATE BROKERAGE
Listing details
Days on REW
62 Days
Property Views
17
MLS® Number
X12963106
Source
Canadian Real Estate Association
Board
London and St. Thomas Association of REALTORS®
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25 Years
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3.99%

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Property Insights

Victoria Public School
  • Public
  • JK - 8
St Martin School
  • Catholic
  • JK - 8
Jeanne-Sauvé Public School
  • Public
  • K - 8
Wortley Road Public School
  • Public
  • JK - 8
London Central Secondary School
  • Public
  • 9 - 12
London South Collegiate Institute
  • Public
  • 9 - 12
Tecumseh Public School
  • Public
  • JK - 8
Eagle Heights Public School
  • Public
  • JK - 8
Catholic Central High School
  • Catholic
  • 9 - 12
Kensal Park Public School
  • Public
  • K - 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
JUSTIN KONIKOW
Phone:
519-860-6547
Cell:
519-473-9992
Office:
519-473-9992
Salesperson
NATHAN SMITH
Phone:
(519) 200-7980
Cell:
519-200-7980
Office:
519-473-9992
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By proceeding, you consent to receive communications using the methods provided, from REW.ca and our partners about your inquiry and other home-related matters to assist you in your search, but not as a condition of any purchase.