196-198 Clarence Street, London East, ON N6B 2J7
London East, ON N6B 2J7
About this property
196-198 Clarence Street consists of two separate lots and is fully approved and ready to build, with plans, permits and due diligence completed, making this a true shovel-ready 8-unit redevelopment opportunity. City of London housing incentives may provide a forgivable loan of up to $45,000 per qualifying unit, representing potential funding of up to $360,000, subject to program availability, eligibility requirements and municipal approval. Based on projected rents of $1,250 per unit, plus anticipated parking and locker income, the completed project could generate approximately $134,400 in annual gross revenue and projected NOI of approximately $108,920. At stabilization, this supports an estimated value of approximately $2,178,400 at a 5% capitalization rate or $1,815,333 at a 6% capitalization rate. Once completed and stabilized, the property may also qualify for CMHC MLI Select financing, subject to applicable program and lender requirements. The property is conveniently located near Downtown London, transit, employment, shopping and amenities. Complete plans and due diligence package are available upon request. All projections, incentives and financing opportunities are estimates only and should be independently verified by the purchaser.
Property facts & features
- Property type
- Investment
- MLS® number
- X13784218
- Source status
- New
- Bedrooms
- Not provided
- Bathrooms
- Not provided
- Reported interior area
- 0.136
- Neighbourhood
- Not provided
- Postal code
- N6B 2J7
- Garage
- None
- Lot depth (source units)
- 110
- Annual property tax
- 2245.24
- Basement
- Not provided
- Laundry
- Not provided
- Interior features
- Not provided
- 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
New · $739,999
Multi-event history, valuations and sold comparables require verified property identity and display permissions. No historical events or estimated values have been inferred.
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Explore active properties in London East →Listing brokerage: EXP REALTY. Displayed by EnterHome Realty. Source: authorized IDX record, MLS® X13784218. Information deemed reliable but not guaranteed.