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BEDROOMS 3
BATHROOMS 3
KITCHENS 13
ROOMS X14176730
MLSID Contact Us
Property Description
LEGAL/LICENSED triplex with permits in place for duplex ARU build in rear yard! Excellent opportunity for those looking to live in with a mortgage helper or for investors looking to expand their portfolio with significant upside! Inside you will find 2 out of 3 units vacant. 1x 2 bed/1 bath, previously rented for $2050/month, 1x bachelor unit which could rent for an estimated $1100/month and one excellent legacy tenant. Most big ticket items have been completed in the time the owner has owned this property including, but not limited to: updated electrical, updated plumbing, attic and basement insulation, almost all windows, hot water tanks are owned, all units renovated, not to mention almost $20,000 spent for duplex plans and permits. This property is in an excellent A+ location, walking distance to Wortley Village, downtown AND park trails. Bus to Western University is just around the corner. Large detached garage and 5 parking spots! Large 50x175 lot.
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Property Features
Hospital, Library, Park, Place Of Worship, School Bus Route, School, Carpet Free, Water Heater Owned
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Property Details
Address
29 Springbank Drive
Community
City
Postal Code
N6J 1E1
Property Type
Triplex, Triplex
Lot Size
50' x 175'
Taxes
$4,405 (2025
Basement
Full
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
5
Garage Type
Detached
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Listing contracted with The Realty Firm Prestige Brokerage Inc.
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.
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Welcome to 338 Hamilton Road! A fantastic opportunity to own a 2-storey triplex featuring three separate units, offering excellent potential for both investors and first-time home buyers. This property provides the flexibility to generate rental income from multiple units while building long-term equity. Ideal for an investor looking to expand their portfolio or an owner-occupant looking to live in one unit while benefiting from potential rental income from the others. Conveniently located close to everyday amenities, shopping, schools, public transit and major routes. Don't miss this great income-producing opportunity! "VIRTUALLY STAGED PICTURES".
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