140 Ridout Street S London South, Ontario N6C 3X6
$1,799,900
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:49203)
Property Details
| MLS® Number | X13243444 |
| Property Type | Multi-family |
| Community Name | South F |
| Amenities Near By | Hospital |
| Parking Space Total | 6 |
Building
| Bathroom Total | 5 |
| Bedrooms Above Ground | 8 |
| Bedrooms Total | 8 |
| Age | 51 To 99 Years |
| Basement Features | Walk Out, Separate Entrance |
| Basement Type | N/a, N/a |
| Cooling Type | None |
| Foundation Type | Block |
| Heating Fuel | Natural Gas |
| Heating Type | Other |
| Stories Total | 2 |
| Size Interior | 2,500 - 3,000 Sqft |
| Type | Other |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Land Amenities | Hospital |
| Sewer | Sanitary Sewer |
| Size Irregular | 47.2 X 147.1 Acre |
| Size Total Text | 47.2 X 147.1 Acre|under 1/2 Acre |
| Zoning Description | R2-2 |
https://www.realtor.ca/real-estate/29857028/140-ridout-street-s-london-south-south-f-south-f
Contact Us
Contact us for more information
Sean Roland
Broker
2911 Kennedy Road
Toronto, Ontario M1V 1S8
(416) 298-8200
(416) 298-6602
HTTP://www.c21percyfulton.com
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
June 05 2026 02:52:12
Toronto Regional Real Estate Board
Century 21 Percy Fulton Ltd.