1071.5 Florence Street, London East, ON N5W 2M7

About this property

Exceptional Investment Opportunity - Legal Triplex with Strong Cash Flow & Future Upside! Own a fully legal two-storey triplex on a rare 37.09 ft x 168.63 ft lot in one of London's rapidly growing neighbourhoods. Certified by the City of London, this income-producing property offers immediate cash flow, low operating costs, and excellent long-term appreciation potential. Currently generating $3,289/month from the main floor ($1,689) and upper unit ($1,600 including parking), with only the basement unit remaining to be leased at $1,350/month, bringing the projected gross rental income to approximately $4,639/month ($55,668 annually). Property taxes are only $2,716/year, making this an attractive opportunity for investors. The impressive 168-foot-deep lot provides added privacy and future development potential, subject to municipal approvals. Ideally located with a bus stop at the doorstep and within walking distance to the Hard Rock Hotel, casino, restaurants, shopping, and entertainment district, this high-demand location continues to attract quality tenants. Major updates include a waterproofing membrane around the foundation (2021), interior drainage system, exterior painting, soundproofing between the main and upper floors, and a renovated main-floor kitchen (2022).Additional features include separate entrances, separate hydro meters, four parking spaces, coin-operated laundry for extra income, and a private tree-lined backyard with a paved patio and fire pit. Whether expanding your portfolio or purchasing your first investment property, this well-maintained legal triplex offers strong income, excellent upside, valuable updates, and outstanding long-term investment potential.

Property facts & features

Property type

Triplex

MLS® number

X13589054

Source status

New

Bedrooms

4

Bathrooms

3

Reported interior area

Not provided

Neighbourhood

Not provided

Postal code

N5W 2M7

Parking spaces

4

Garage

None

Lot depth (source units)

168.63

Annual property tax

2716

Basement

Apartment, Separate Entrance, Full, Finished

Laundry

Not provided

Interior features

Carpet Free

Exterior features

Not provided

Values and units are reported by the listing source. Verify measurements and fees with the brokerage.

Floor plans & room measurements

Floor plans and verified room measurements are not available for this property.

Property value & listing history

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Planning estimate with Canadian semiannual compounding. Excludes mortgage insurance, closing costs and special assessments. This is not a lender quote or mortgage approval.

Location & neighbourhood

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