551 Adelaide Street North presents a rare chance to own a well-maintained, solid brick fully tenanted triplex with versatile Arterial Commercial (AC2(4)) zoning in a prime, high-visibility location. This charming century property shows pride of ownership throughout, with major updates completed: shingles (2010), furnace (2016), windows (2007 and 2013), three electrical panels, and three owned hot water tanks.The building is fully rented to long-term, reliable tenants. Each unit includes its own washer and dryer, ensuring strong tenant satisfaction and consistent rental demand. The upper unit is a spacious 2-bedroom, 2 full-bathroom loft-style apartment with two private entrances, rented at $1,448.43/month inclusive. The main floor features a 1-bedroom plus den unit rented at $1,250/month inclusive, and the lower 1-bedroom unit is rented at $1,127.50/month inclusive.Situated on a deep 34x127 ft lot, the property offers flexibility for practical enhancements such as additional parking or storage solutions. Investors will appreciate the strong structure, stable income, and the potential to enhance returns through rent optimization, cosmetic updates, and operational efficiencies with utilities or insurance. Located on a major transit corridor and close to pharmacies, grocery stores, and the downtown core, this triplex is an excellent option for investors seeking reliable income in a desirable, commercially zoned location. A must-see for those looking to secure a versatile, income-producing asset. Full Financial Summary & Rent Roll Available.
Property Type:
Residential Freehold
Property Sub Type:
Triplex
Home Style:
2 1/2 Storey
Total Approx Floor Area:
2000-2500
Lot Depth:
123'6½"37.7 m
Lot Frontage:
34'10.4 m
Lot Shape:
Rectangular
Topography:
Dry, Flat
Direction Faces:
West
Bedrooms:
5
Bathrooms:
4.0
Water supply:
Municipal
Kitchens:
3
Bedrooms Above Grade:
5
Kitchens Above Grade:
3
Rooms Above Grade:
10
Zoning:
AC
Heating type:
Forced Air
Heating Fuel:
Gas
Foundation:
Concrete
Roof:
Shingles
Basement:
Apartment, Walk-Up
Fireplace/Stove:
No
Garage:
None
Garage Spaces:
0.0
Parking Features:
Private
Parking Spaces:
4
Total Parking Spaces:
4.0
Family Room:
Yes
Pool:
None
HST Applicable To Sale Price:
Included In
Taxes:
$4,244 /
2025
Assessment:
$- /
-
Middlesex
London East
East F
Hospital, Library, Park, Public Transit, Rec./Commun.Centre, School Bus Route
Separate Heating Controls, Separate Hydro Meter, Water Heater Owned
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