631 Elias Street,London East (East G), ON N5W3N5
London East (East G), ON N5W3N5
Description
Turnkey Investment Opportunity in Old East Village! This charming yellow brick duplex at 631 Elias Street is fully leased and cash-flowing from day one, offering a rare chance to add a hassle-free, income-producing property to your portfolio. Both units are occupied by reliable tenants, delivering $2,633/month in combined gross rent with tenants responsible for their own hydro and gas.The upper unit is a bright, spacious 2-bedroom with a unique layout: one bedroom on the main floor and a second bedroom upstairs. It's now leased at $1,550/month plus hydro and gas and features its own private laundry, electric baseboard heating, and the added comfort and charm of a gas fireplace.The lower unit is home to a reliable, long-term tenant currently paying $1,083/month, with its own separate laundry and forced-air gas heating.Both units are separately metered for hydro and gas, with tenants covering their own utilities. The owner pays water only, keeping expenses low and predictable.Recent updates take the guesswork out of ownership. The roof was redone in three phases between 2018 and 2021, the bathtub was refinished in 2023, a new washer was installed in 2023, a new gas fireplace insert was added in 2025, and the deck was rebuilt in 2026.With two stable tenancies in place, separately metered utilities, private laundry in each unit, and a strong list of recent updates, 631 Elias Street is ready for an investor to step in and start collecting rent immediately. No vacancy, no renovation, no delay. Ideally located close to downtown, public transit, schools, parks, and the shops, cafés, breweries, and restaurants that make Old East Village one of London's most exciting and evolving neighbourhoods. (id:13843)
Details
| MLS # | X13614444 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 89 |
| Listing Provided By | THE REALTY FIRM INC. | REBECCA BLAKE |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,500 |
| Basement | Y |
| Story(s) | 1 |
| Zoning | R3-2 |
Interior
| Cooling | Window air conditioner |
|---|---|
| Heating | Baseboard heaters, Forced air, Electric, Natural gas |
| Appliances | Washer, Refrigerator, Stove, Dryer, Water Heater |
| Fireplace Yes / No | Yes |
| Fireplace Features | Insert |
| Fireplaces Total | 1 |
Exterior
| Lot Features | In-Law Suite |
|---|---|
| Foundation Details | Concrete |
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 5 |
Utilities
| Sewer | Sanitary sewer |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 3820 |
|---|
Area Information
| Province | ON |
|---|---|
| City | London East (East G) |
| Postal Code | N5W3N5 |
| Listing VS Median (in N5W3N5) | |
Price: $464,000 low | high Med: $464,000 sqft: 1,500 low | high Med: 1,500 $ / sqft: $309 low | high Med: $309 On site: 89 low | high Med: 89 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | London East (East G) |
| Postal Code | N5W3N5 |
| Listing VS Median (in N5W3N5) | |
Price: $464,000 low | high Med: $464,000 sqft: 1,500 low | high Med: 1,500 $ / sqft: $309 low | high Med: $309 On site: 89 low | high Med: 89 | |
