$624,900
551 ADELAIDE STREET N
Beds
5
Baths
4
Sqft
—
Year
—
Type
Multi-family
Suite
Investment signal
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for London East (East F). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
551 Adelaide Street North presents a rare chance to own a well-maintained, solid brick fully tenanted triplex with versatile Arterial Commercial (AC2(4)) zoning in a prime, high-visibility location. This charming century property shows pride of ownership throughout, with major updates completed: shingles (2010), furnace (2016), windows (2007 and 2013), three electrical panels, and three owned hot water tanks.The building is fully rented to long-term, reliable tenants. Each unit includes its own washer and dryer, ensuring strong tenant satisfaction and consistent rental demand. The upper unit is a spacious 2-bedroom, 2 full-bathroom loft-style apartment with two private entrances, rented at $1,448.43/month inclusive. The main floor features a 1-bedroom plus den unit rented at $1,250/month inclusive, and the lower 1-bedroom unit is rented at $1,127.50/month inclusive.Situated on a deep 34x127 ft lot, the property offers flexibility for practical enhancements such as additional parking or storage solutions. Investors will appreciate the strong structure, stable income, and the potential to enhance returns through rent optimization, cosmetic updates, and operational efficiencies with utilities or insurance. Located on a major transit corridor and close to pharmacies, grocery stores, and the downtown core, this triplex is an excellent option for investors seeking reliable income in a desirable, commercially zoned location. A must-see for those looking to secure a versatile, income-producing asset. Full Financial Summary & Rent Roll Available. (id:65958)
- Subtype
- Multi-family
- Structure
- Triplex
- Community
- East F
- Lot dimensions
- 34 x 123.5 FT
- Bedrooms
- 5 above grade
- Parking
- 4 total
- Stories
- 2.5
- On market
- Apr 22, 2026
- Status changed
- Apr 22, 2026
- Annual tax
- $4,244
- Zoning
- AC
- Photos
- 44
- MLS#
- X13029774
- Area
- LONDON_EAST_(EAST_F)
Features and systems
Parking
Basement
Appliances
Heating
Exterior
Foundation
Lot
Community
Cash on cash
-5.24%
Cap rate
3.82%
GRM
15.8
Break-even rent
$3,874
Financing
Operating expenses (monthly)
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
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 22, 2026.