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About the Listing 371303 -
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.
Listing Highlights
Status
Active
Days on Site
49
Property Type
Multi-Family
MLS ®
X12581310
Year Built
Total Square Footage
2,000
Lot/Acreage
N/A
Interior Details
- Bedrooms: 5
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Apartment,Walk-Up
- Other: Separate Heating Controls,Separate Hydro Meter,Water Heater Owned
- Water:
Exterior Details
- Garage Capacity: 1 car
- Roof: Shingles
- Others: Porch,Year Round Living
- Sewer: Sewer
- Parking Features: Private
Financial Details
- Tax Amount: $4,244
- Taxes w/Assessments: N/A
- Tax/Property ID: 082770092
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
551 Adelaide St N London, ON N6B 3J6
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