<-- style PDP --> 466 Adelaide Street, London East - Triplex for sale for $199,900
  • sold

466 Adelaide Street

London East, Ontario, N6B 3H9 - East G

$199,900$000000

  • Neighbourhood

    East G

  • Major Intersection

    ADELAIDE AND QUEEN

  • Listed Since: 150 day(s)

  • Last update: 142 day(s) ago

Overview

  • Property Type

    Triplex, 2-Storey

  • Bedrooms

    6

  • Bathrooms

    3

  • Basement

    Unfinished

  • Kitchen

    3

  • Total Parking

    10

  • Lot Size

    50x150 (Feet)

  • Taxes

    $2,934.00 (2025)

  • Type

    Freehold

Property Description

Property description for 466 Adelaide Street, London East

LEGAL LICENSED TRIPLEX IN THE HEART OF LONDON - VALUE-ADD MULTI-RESIDENTIAL OPPORTUNITY WITH STRONG UPSIDE POTENTIAL. This licensed triplex offers investors a rare opportunity to acquire a cash-flowing asset with significant future income growth in one of London's most established urban rental corridors. The property features three self-contained units including a spacious 3-bedroom unit, a 1-bedroom unit, and a 2-bedroom unit, along with ample on-site parking - a highly desirable feature for tenants in the downtown core. Current rental configuration includes:Unit #1 (3 Bedroom) rented by the bedroom with Room #1 generating $495/month and Room #2 generating $600/month.Unit #2 (1 Bedroom) currently rented for $995/month.Unit #3 (2 Bedroom) is presently vacant and requires renovation but presents exceptional upside potential with estimated future market rent of approximately $1,600/month once updated. This property presents multiple value-add strategies including completing renovations to Unit #3, optimizing the existing room-rental model, and increasing overall rental performance over time. Strong rental demand in the area supports long-term income stability and future appreciation potential. Ideal for investors, renovators, or portfolio builders seeking a compliant multi-unit property with immediate income and clear pathways to forced appreciation.Projected Upside Scenario:Renovated Unit #3 estimated at: $1,600/month Current Monthly Income: $2,090Current Annual Income: $25,080Pro Forma Monthly Income: $3,690 Pro Forma Annual Income: $44,280Cap Rate Analysis (Assuming ~30% operating expenses typical for triplexes)Current NOI: ~$17,556Current Cap Rate (Based on $199,900 asking price): ~8.8%Pro Forma NOI: ~$30,996Pro Forma Cap Rate (Based on $199,900 asking price): ~15.5%Excellent opportunity to reposition and stabilize a licensed multi-family asset with substantial income upside in a high-demand London rental market.

Listed by CENTURY 21 FIRST CANADIAN CORP

  • MLS #

    X13090206

  • Sq. Ft

    1500-2000

  • Sq. Ft. Source

    MLS

  • Lot Irregularities

    n/a

  • Year Built

    Available Upon Request

  • Pool

    None

  • Drive

    n/a

  • Garage

    None

  • Total Parking

    10

  • Family Room

    N

  • Den

    N

  • Exterior

    Vinyl Siding

  • Fireplace

    N

  • Roof

    Asphalt Shingle

  • Foundation

    Concrete Block, Poured Concrete

  • Elevator

    n/a

  • Water View

    n/a

  • Laundry Level

    n/a

  • Heat

    Forced Air

  • A/C

    None

  • Water

    Municipal

  • Water Supply

    n/a

  • Sewers

    Sewers

  • Central Vac

    N

  • MLS #

    X13090206

  • Sq. Ft

    1500-2000

  • Sq. Ft. Source

    MLS

  • Lot Irregularities

    n/a

  • Year Built

    Available Upon Request

  • Pool

    None

  • Drive

    n/a

  • Garage

    None

  • Total Parking

    10

  • Family Room

    N

  • Den

    N

  • Exterior

    Vinyl Siding

  • Fireplace

    N

  • Roof

    Asphalt Shingle

  • Foundation

    Concrete Block, Poured Concrete

  • Elevator

    n/a

  • Water View

    n/a

  • Laundry Level

    n/a

  • Heat

    Forced Air

  • A/C

    None

  • Water

    Municipal

  • Water Supply

    n/a

  • Sewers

    Sewers

  • Central Vac

    N

Thinking of Selling?

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Contact Manoj Kukreja

Sales Representative,
Century 21 People’s Choice Realty Inc.,
Brokerage
(647) 576 - 2100

Manoj profile avatar

Property History

Property history for 466 Adelaide Street, London East

This property has been sold 2 times before. Create your free account to explore sold prices, detailed property history, and more insider data.

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Estimated price

Date
Price
Change
2026-05-06
$196,424
0.58%

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Closing Cost Calculator

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Additional information

Provincial Land Transfer Tax

Ontario Land Transfer Tax Rebate

Toronto Land Transfer Tax

Toronto Land Transfer Tax Rebate

PST on CMHC Insurance Premium

Lawyer Fees

$2,825

Government Registration Fee's

$164

Title Insurance

Closing Cost Total

Total Cash flow for purchasing this property

Provincial Land Transfer Tax

Ontario Land Transfer Tax Rebate

Toronto Land Transfer Tax

Toronto Land Transfer Tax Rebate

PST on CMHC Insurance Premium

Lawyer Fees

$2,825

Government Registarion Fee's

$164

Title Insurance

Down Payment(%)*

* A down payment of less than 20% is permitted only for first-time home buyers purchasing their principal residence. The minimum down payment required is 5% for the portion of the purchase price up to $500,000, and 10% for the portion between $500,000 and $1,500,000. For properties priced over $1,500,000, a minimum down payment of 20% is required.

Thinking of Selling?

Find Out Your Home’s Value in Today’s Market!

No Email or Signup is required to view your home estimate.

estimate your home value

Contact Manoj Kukreja

Sales Representative, Century 21 People’s Choice Realty Inc., Brokerage
(647) 576 - 2100

Manoj profile avatar

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