1071.5 Florence Street London East, Ontario N5W 2M7
$549,900
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:63476)
Property Details
| MLS® Number | X13589054 |
| Property Type | Multi-family |
| Community Name | East M |
| Amenities Near By | Hospital, Park, Schools |
| Community Features | School Bus |
| Equipment Type | Water Heater |
| Features | Carpet Free |
| Parking Space Total | 4 |
| Rental Equipment Type | Water Heater |
Building
| Bathroom Total | 3 |
| Bedrooms Above Ground | 4 |
| Bedrooms Total | 4 |
| Age | 100+ Years |
| Appliances | Dryer, Stove, Washer, Refrigerator |
| Basement Development | Finished |
| Basement Features | Apartment In Basement, Separate Entrance |
| Basement Type | N/a, N/a, Full, N/a (finished) |
| Cooling Type | None |
| Exterior Finish | Brick, Vinyl Siding |
| Foundation Type | Block |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 2 |
| Size Interior | 1,100 - 1,500 Sqft |
| Type | Triplex |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Land Amenities | Hospital, Park, Schools |
| Sewer | Sanitary Sewer |
| Size Depth | 168 Ft ,7 In |
| Size Frontage | 37 Ft ,1 In |
| Size Irregular | 37.1 X 168.6 Ft |
| Size Total Text | 37.1 X 168.6 Ft|under 1/2 Acre |
| Zoning Description | R2-2 |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | Bedroom | 3.6 m | 3 m | 3.6 m x 3 m |
| Second Level | Bedroom | 3.6 m | 3 m | 3.6 m x 3 m |
| Second Level | Kitchen | 3 m | 2.6 m | 3 m x 2.6 m |
| Second Level | Office | 3.3 m | 3 m | 3.3 m x 3 m |
| Basement | Bedroom | 3.2 m | 2.7 m | 3.2 m x 2.7 m |
| Basement | Living Room | 2.9 m | 3.6 m | 2.9 m x 3.6 m |
| Basement | Kitchen | 2.9 m | 2.4 m | 2.9 m x 2.4 m |
| Main Level | Living Room | 4.7 m | 3 m | 4.7 m x 3 m |
| Main Level | Bedroom | 3.3 m | 3.2 m | 3.3 m x 3.2 m |
| Main Level | Kitchen | 3.3 m | 2.8 m | 3.3 m x 2.8 m |
Utilities
| Electricity | Available |
| Sewer | Available |
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August 04 2026 07:50:29
London and St. Thomas Association of REALTORS®
Right At Home Realty