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Investment signal

$775,000

406 GREY STREET

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Beds

Baths

Sqft

—

Year

—

Type

Multi-family

Suite

Suite potential

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Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for London East (East K). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

This exceptional downtown corner-side-by-side duplex presents a rare opportunity in the highly sought-after SOHO district. As one of the largest properties of its kind in the neighbourhood, it offers the unique advantage of essentially providing two three-bedroom semi-detached homes for the price of one. Each unit features its own private driveway, separate entrance, individual basement, and dedicated backyard, ensuring both comfort and independence. Unit A (Grey Street-facing) offers three spacious bedrooms, a luxurious 4-piece spa-inspired bathroom, and main-floor laundry. The unit has been recently updated with a brand-new kitchen featuring granite countertops and stainless steel appliances. Additional highlights include a full basement with new windows, a large unfinished attic with significant potential, and a detached garage with a new roof and masonry repairs. This unit also benefits from four parking spaces. Unit B (Colborne Street-facing) has been extensively updated with a newly renovated bathroom, new front and rear entry doors, and a full suite of new appliances, including a refrigerator, stove, washer, dryer, dishwasher, range hood, sink, and faucet. Exterior pot lighting has also been added for enhanced curb appeal. Both units are separately metered for hydro, making this property an excellent opportunity for investors or multi-generational living. This is a truly rare offering in a prime location, combining size, functionality, and strong income potential. (id:65958)

Subtype: Multi-family
Architectural style: Bungalow
Structure: Duplex
Community: East K
Lot dimensions: 78 x 80.6 FT
Bedrooms: 6 above grade
Parking: 9 total
Stories: 1
On market: Apr 2, 2026
Status changed: Apr 25, 2026
Annual tax: $3,537.2
Photos: 43
MLS#: X12953690
Area: LONDON_EAST_(EAST_K)

Features and systems

Parking

Detached GarageGarage

Basement

UnfinishedN/A

Appliances

DryerMicrowaveTwo stovesWindow CoveringsTwo WashersWater HeaterTwo Refrigerators

Heating

Forced airNatural gas

Cooling

Central air conditioning

Exterior

WoodBrick

Flooring

LaminateCeramic

Foundation

Block

Lot

Carpet Free

Negative cash flow ~$864/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

-6.69%

Cap rate

3.53%

GRM

16.7

Break-even rent

$4,785

Financing

Down payment$155,000

Loan amount$620,000

Mortgage$3,141/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$355

Insurance$80

Maintenance$646

CapEx reserve$323

Vacancy loss$194

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.

Mortgage estimate

Estimated $3,141/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 25, 2026.