140 RIDOUT Street South

London South, ONMulti-family
$1,799,900
MLS® X13243444
Multi-family8 beds5 baths6 total
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About This Property

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:63604)

Key Facts

Type
Multi-family
Beds
8
Baths
5
Size
2,500 sqft
Lot
47.2 x 147.1 Acre
Parking
6 total
Property Details 12 details
Bedrooms
8 bedrooms
8 above grade
Bathrooms
5 bathrooms
Parking
6 parking spaces
No Garage
Living area
2,500 - 3,000 sq. ft.
Property
Multi-family
Property subtype
Multi-family
Structure type
Other
Storeys
2
Basement
Separate entrance, Walk out
Heating
Natural gas, Other
Fireplace
No
Lot dimensions
47.2 x 147.1 Acre
Taxes
$6,969.00
Zoning
R2-2
Water source
Municipal water
Sewer
Sanitary sewer

Exterior features

Block
Mortgage & Affordability Estimate monthly costs
Mortgage Tools Buyer/Seller Snapshot
Purchase price$1,799,900
Down paymentNot available
Mortgage amountNot available
Principal & interestNot available
Property taxesNot available
Condo/HOA feeNot available
Insurance/OtherNot available
UtilitiesNot available
Est. monthly totalNot available
Income needed (GDS 32%)Not available
Estimates only. Not financial advice. Rates, taxes and fees vary by lender and municipality.

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Neighbourhood

Area
South F
City
London South
Postal code
N6C 3X6
Nearby
RIDOUT STREET SOUTH NEAR FERGUSON PLACE
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