466 Adelaide Street N, London East, ON N6B 3H9
London East
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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.
Walkability, transit, and bike-friendliness for 466 Adelaide Street N, London East, ON N6B 3H9
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MLS# X13090206
Listed by CENTURY 21 FIRST CANADIAN CORP
Listed May 6, 2026
Sold Jul 6, 2026
What comparable homes actually sold for in the last 12 months.
466 Adelaide Street N, London East, ON N6B 3H9 is listed for $199,900 CAD.
466 Adelaide Street N, London East, ON N6B 3H9 has 6 bedrooms and 3 bathrooms.
466 Adelaide Street N, London East, ON N6B 3H9 is a Triplex.
466 Adelaide Street N, London East, ON N6B 3H9 is in London East, Ontario.
466 Adelaide Street N, London East, ON N6B 3H9 is currently for sale.
Contact Alex Morgan at +16471112222 to arrange a private showing of 466 Adelaide Street N, London East, ON N6B 3H9 (MLS# X13090206). You can also send a message through the contact form on this site.
