140 Ridout Street S,London South (South F), ON N6C3X6
London South (South F), ON N6C3X6
Description
Rare opportunity to acquire a fully renovated, purpose-built five-unit apartment building in the highly sought-after Old South London neighbourhood, just minutes from Downtown, Victoria Hospital, and Wortley Village. This turnkey investment offers exceptional income potential with projected gross rents of approximately $10,000/month and four vacant units, allowing investors to establish market rents immediately.The building features an excellent unit mix of three spacious two-bedroom apartments and two one-bedroom units, with potential to convert the one-bedroom suites into additional two-bedroom layouts for increased revenue. Extensive renovations have eliminated deferred maintenance and include a new roof (2021), eavestroughs (2023), windows (2025), exterior insulation upgrades, attic insulation upgraded to R60, and private balconies for each unit.All suites have been modernized with open-concept layouts, updated kitchens with quartz countertops, renovated bathrooms, stainless steel appliances, in-suite laundry, individual heat-pump split AC systems, and enhanced soundproofing. Major infrastructure upgrades include new plumbing, updated electrical wiring, 400-amp service, and separate hydro meters, allowing tenants to pay their own utilities. Safety features include 60-minute fire-rated doors and a basement sprinkler system.Additional amenities include private storage lockers, a fully paved rear parking area for over eight vehicles, and EV-charger-ready infrastructure. This low-maintenance, high-yield asset offers strong cash flow, long-term appreciation potential, and a premium multifamily investment opportunity in one of London's most desirable rental markets. (id:13843)
Details
| MLS # | X13243444 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 141 |
| Listing Provided By | CENTURY 21 PERCY FULTON LTD. | SEAN ROLAND |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 5 Total |
| SQ Feet | 2,500 |
| Basement | Y |
| Story(s) | 2 |
| Zoning | R2-2 |
Interior
| Cooling | None |
|---|---|
| Heating | Natural gas, Other |
| Fireplace Yes / No | No |
Exterior
| Foundation Details | Block |
|---|
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 6 |
Utilities
| Sewer | Sanitary sewer |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 6969 |
|---|
Area Information
| Province | ON |
|---|---|
| City | London South (South F) |
| Postal Code | N6C3X6 |
| Listing VS Median (in N6C3X6) | |
Price: $1,799,900 low | high Med: $1,799,900 sqft: 2,500 low | high Med: 2,500 $ / sqft: $720 low | high Med: $720 On site: 141 low | high Med: 141 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | London South (South F) |
| Postal Code | N6C3X6 |
| Listing VS Median (in N6C3X6) | |
Price: $1,799,900 low | high Med: $1,799,900 sqft: 2,500 low | high Med: 2,500 $ / sqft: $720 low | high Med: $720 On site: 141 low | high Med: 141 | |