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About the Listing 222500 -
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.
Listing Highlights
Status
Active
Days on Site
41
Property Type
Multi-Family
MLS ®
X13243444
Year Built
Total Square Footage
2,500
Lot/Acreage
N/A
Interior Details
- Bedrooms: 8
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating: Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Walk-Out,Separate Entrance
- Other: 5 Kitchens
- Water:
Exterior Details
- Garage Capacity: 1 car
- Roof: Asphalt Shingle
- Others: Hospital
- Sewer: Sewer
- Parking Features: Private,No Garage
Financial Details
- Tax Amount: $6,969
- Taxes w/Assessments: N/A
- Tax/Property ID: 083730009
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
140 Ridout St S London, ON N6C 3X6
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