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Investment signal

$399,000

720 QUEENS AVENUE

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Beds

Baths

Sqft

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Year

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Type

Multi-family

Suite

Investment signal

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Location nearby

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

About this home

Solid brick home located in a highly desirable area with rare OC2X R3 zoning, offering excellent flexibility for Commercial/Office or Medium density Residential future use, redevelopment, or long-term investment. Situated on a deep lot with a large backyard, this property provides outdoor space that's hard to find in this location - ideal for expansion, additional structures (subject to approvals), or simply enjoying the privacy and space. The property is currently configured with multiple units, including two units on the main floor and one unit on the upper level. Unit 3 (upper unit) has been updated and is in good condition, requiring no immediate work. Unit 1 and Unit 2 (main floor) both require full renovations, offering clear upside for a buyer looking to improve and reposition the property. The home is serviced by one furnace (12 years old), and the roof is also approximately 12 years old. Units 2 and 3 are separately metered for hydro, while Unit 1 and the basement share a panel. Recent improvements include new exterior stairs and fire shutters installed on the west wall adjacent to the second floor stairwell, adding to safety and compliance considerations. This configuration provides flexibility for renovation, income optimization, or future redevelopment, supported by the property's OC2X R3 zoning and generous lot size. (id:65958)

Subtype: Multi-family
Structure: Triplex
Community: East G
Lot dimensions: 40 x 130 FT
Bedrooms: 6 above grade
Parking: 3 total
Stories: 1.5
On market: Jan 30, 2026
Status changed: Apr 27, 2026
Annual tax: $3,101 (2025)
Zoning: OC2X R3
Photos: 38
MLS#: X12741378
Area: LONDON_EAST_(EAST_G)

Features and systems

Parking

No Garage

Basement

Partially finishedN/A

Heating

Forced airNatural gas

Cooling

None

Exterior

Brick

Foundation

Block

Positive cash flow ~$756/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

11.37%

Cap rate

7.14%

GRM

10.1

Break-even rent

$2,504

Financing

Down payment$79,800

Loan amount$319,200

Mortgage$1,617/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$183

Insurance$80

Maintenance$333

CapEx reserve$166

Vacancy loss$165

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 $1,617/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 27, 2026.