552 Adelaide St N

East G, London, N6B 3J5
FOR SALE
$645,000
552 Adelaide St N, London
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
552 Adelaide St N
Browsing Limit Reached
Please Register for Unlimited Access
3 + 2
BEDROOMS
2
BATHROOMS
1 + 1
KITCHENS
9
ROOMS
X11932633
MLSID
Contact Us
Property Description
Great investment property close to downtown with short bus rides to both of Fanshawe College and Western University. Fully tenanted property with total rental income of $3800 per month (upper leased until Aug 2025 - $1650, and main is March 2025 - $2150) with tenants paying all utilities. Tenants are planning on staying. Fully funded this property has a capitalization rate between 5.5% and 6% meaning right from the start it is cash flow positive. Building was cleaned up and renovated in 2023 so very little can be expected in terms of maintenance fees for the next few years. Rents are slightly below market value meaning this building will perform more strongly and be an even better addition to your portfolio as time progresses. This yellow brick home sits on the edge of Woodfield and Old East Village. The main floor has 2 large bedrooms plus a basement with additional room. The upper has 1 bedroom plus den, both with in suite laundry. Property is being sold fully furnished excluding tenants belongings. Parking is at the rear of the building and access is off of Princess.
Listing History
List Date End Date Days Listed List Price Sold Price Status
2024-07-30 2024-08-14 16 $1,750 - Suspended
Property Details
Community
City
Property Type
Duplex, 2-Storey
Lot Size
31' x 120'
Fronting
East
Taxes
$2,674 (2024)
Basement
Part Fin
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
4
Driveway
Pvt Double
Garage Type
None
London Market Statistics
London Price Trend
552 Adelaide St N is a 3-bedroom 2-bathroom home listed for sale at $645,000, which is $29,833 (4.8%) higher than the average sold price of $615,167 in the last 30 days (December 19 - January 17). During the last 30 days the average sold price for a 3 bedroom home in London declined by $14,070 (2.2%) compared to the previous 30 day period (November 19 - December 18) and down $24,833 (3.9%) from the same time one year ago.
Inventory Change
There were 138 3-bedroom homes listed in London over the last 30 days (December 19 - January 17), which is down 19.3% compared with the previous 30 day period (November 19 - December 18) and up 1,154.5% compared with the same period last year.
Sold Price Above/Below Asking ($)
3-bedroom homes in London typically sold ($29,447) (4.8%) below asking price over the last 30 days (December 19 - January 17), which represents a $15,999 decrease compared to the previous 30 day period (November 19 - December 18) and ($14,000) less than the same period last year.
Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in London over the last 30 days (December 19 - January 17) stood at 117.4%, up from 101.8% over the previous 30 days (November 19 - December 18) and down from 190.9% one year ago.
Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 2-bathroom home in London stood at 38 days when successfully sold over the last 30 days (December 19 - January 17), compared to 82 days before being removed from the market upon being suspended or terminated.
Listing contracted with Initia Real Estate (Ontario) Ltd
Similar Listings
893 Queens Ave, London
3
BEDS
3
BATHS
$725,000
FOR SALE
Welcome to 893 Queens Avenue - A fantastic duplex offering versatility, income potential, and a prime location near some of London's most exciting attractions. The main level unit features a spacious two level layout with a total of two bedrooms, including an upper-level primary bedroom complete and full bath, and a second bedroom conveniently located on the main floor. A 2-piece bathroom on the main level provides functionality with the potential to be upgraded to a 4-piece for added convenience. This unit boasts main floor laundry, freshly painted interior, and a well-appointed kitchen thats perfect for everyday living. With two separate entrances and a basement providing ample storage, the main floor unit is vacant and move-in ready. The upper-level unit is a cozy 1-bedroom apartment, currently tenant-occupied, providing immediate rental income. It's ideal for tenants seeking a simple, low-maintenance living space. Situated on a deep lot, this property offers plenty of parking and space requirements for an additional dwelling unit (ADU), presenting an excellent opportunity to expand with a third or even fourth unit or potential second building at the rear of the lot. Located steps from the Western Fair District, this home is close to the artisan market, raceway track, casino, sports complex, and the vibrant 100 Kellogg area, which includes The Factory, Powerhouse Brewery, and other unique attractions. Whether you're an investor or looking for a multi-functional property, 893 Queens Avenue is a rare investment opportunity in a highly desirable location. Book your showing today!
553 Quebec St, London
4
BEDS
2
BATHS
$559,999
FOR SALE
Amazing Investment Opportunity Located in the heart of London! This turn-key, low maintenance legal duplex in Old East Village will be an amazing addition to your portfolio. Close to downtown, Western Fair Farmer's Market and all amenities including bus routes to both Fanshawe College and UWO. Perfect for anyone looking for a spacious, cash flowing investment or a mortgage helper to ease your payments. This building features 2 spacious units has an extensive list of recent updates: Three Hydro meters and updated Electrical Panels (2022), Roof (2014), Siding/eavestrough/soffits/fascia (2021), Updated plumbing (2021), Furnace (2019), Fence (2020-2021). In addition, there is coin-operated shared laundry and plenty of parking. Separate entrances for both units and the full unfinished basement for storage/workshop.Fully rented to high-quality A+ tenants for $3464/month.
666 Lorne Ave, London
4+1
BEDS
3
BATHS
$599,999
FOR SALE
Welcome to this beautifully updated legal duplex located in the heart of Old East Village, one of the city's most vibrant and eclectic neighbourhoods. This property offers an exceptional opportunity for both homeowners and investors, blending modern updates with charm and functionality. The main floor has been thoughtfully updated throughout, featuring two bedrooms and one-and-a-half bathrooms. This unit also includes exclusive access to a finished basement with a large bonus room, offering endless possibilities for use as a home office, recreational space, or additional living area. Enjoy a beautiful, large, fully-fenced backyard in the summer perfect for the kids or pets. This unit is vacant and ready for new tenants. The tenant-occupied upper unit provides immediate rental income, featuring a private balcony, two bedrooms, and one bathroom. Situated in the heart of OEV, this property is steps away from local cafes, shops, restaurants, and all the energy this beloved neighbourhood has to offer. Whether you're looking to invest or settle into a home with built-in rental income, this legal duplex is a rare find that's not to be missed.
453 Bathurst St, London
4
BEDS
2
BATHS
$649,900
FOR SALE
Located in nearby heart of downtown London. This solid brick duplex (currently) is a turn-key operation rebuilt approximately 20 years ago. 2 units upper and lower. Approx 700sqft each, two-bed individual heating systems, tenant pays own utilities (heat, light, water) all separate meters. Parking allows for approximately 4 cars, each with separate driveway entrances. No shared common area. Built past current standards at the time of construction Foam insulation throughout, double brick, 2x6 construction, sound deadening, all fire coded and licensed through the city (licenses provided) separate entrance with commercial steel doors, main floor unit has custom wrought iron screen door. Each unit has gas stand-alone fireplaces that heat the unit with electric baseboard backups. Security cameras system installed monitored through app. Could be covered to single-use again with inside access to both floorsThis is a perfect opportunity to have a small business and still have an income to cover bills. Live in or retain current tenants.The new owner will assume new tenants at the time of closing.Take note of the Zoning Description in Docs. Many Uses under the BDC (35)H13Business District Commercial Area View Doc for rent Roll. Do not go direct. L/A will coordinate with tenants
165 MADISON Ave, London
4
BEDS
2
BATHS
$599,900
FOR SALE
Attention First-time buyers & Investors! Outstanding Side by Side Duplex is now available for you to add to the portfolio or live on one side as the other helps pay the bills. Both units are spacious and have their own furnace, breaker panels, and owned water heaters. These two 2 bedrooms have bright kitchens, a large living room area, in-unit laundry, renovated bathrooms, a newer steel/metal roof, vinyl windows, high efficiency furnace, loads of parking, and fenced backyard space so both tenants can enjoy the outdoors. Separate gas & hydro meters. Both units are vacant. Front unit could be rented for $1,800 plus utilities and the back unit could be rented $ 1,800 plus). Don't miss out on this turn-key property, there is nothing left to do but collect the rent.
28 BEATTIE Ave, London
4
BEDS
2
BATHS
$589,900
FOR SALE
Looking for a turnkey rental or multi-generational living solution? This excellent east-end duplex features lots of updates in a great location and would be perfect for an owner-occupied income property. The main floor unit has a fresh neutral dcor and while retaining the benefits of a mature home, including hardwood in the living and dining rooms, tray ceilings, and rounded entryways to many rooms. The living room is bright and welcoming thanks to a large window, while a fireplace with traditional mantel provides a focal point and cozy gathering place. The adjacent dining room offers line of sight and is perfect for entertaining or holiday gatherings. The kitchen includes ceramic flooring and lots of storage in updated cabinets, plus a chef-approved gas stove. This level includes two updated bedrooms as well as a modern 4 piece bath, and the lower level has in-suite laundry and a large storage area. The upper unit (also a two bedroom) features a roomy rear-facing deck and dedicated entrance, a light-filled living room (thanks to an oversized window), updated kitchen with eat-in privileges, and a very nice 4 piece bath. The home includes a detached double car garage, long driveway for lots of parking, and well-maintained front and rear yards surrounded by mature trees. Situated on a mature street close to shopping, transit, restaurants and more, you're also close to the 401 and cross-city travel via Highbury Ave. Updates include some newer windows, new furnace (2024) and updated AC (2019). Whether you're looking for a pure income property or are considering an owner-occupied rental approach to get into the market, this home provides an excellent location and two well-laid out units that will appeal to a wide range of potential tenants. Upper unit has longer term tenant and lower tenant leaving for sale of property. Photos of main floor are from previous tenant.
23 Carfrae St, London
4
BEDS
2
BATHS
$569,000
FOR SALE
Embrace the perfect blend of historic allure and modern living at 23 Carfrae Street, a beautifully updated home nestled in coveted Old South. This century home, boasting 1,853 sq. ft. of above-grade living space, is teeming with charm and smartly designed for both comfort and style. The main floor welcomes you into an elegantly renovated space, complete with a brand-new kitchen and bathroom, finished with contemporary fixtures and finishes. A spacious living room becomes a cozy retreat or a lively entertainment area, depending on your mood. Upstairs, the second floor mirrors the generous layout with an expansive living room, accentuated by huge windows that flood the space with natural light, creating an inviting ambiance that's hard to resist. Both floors enjoy the luxury of privacy with separate driveways and entrances. Convenience is at your doorstep with this ideally located property, just a stroll away from the vibrant heart of downtown, and within walking distance to the award-winning Wortley Village. Revel in the local community spirit, top-tier dining, unique shops, and a host of amenities that Wortley Village is renowned for. Families will particularly appreciate the proximity to Thames Park and the esteemed Wortley Village Public School, making this property a desirable choice for those looking for a community-centric lifestyle. With potential rent of $4400+ per month and a cap rate of 7%+, whether you're an investor seeking a turnkey rental opportunity or a homebuyer dreaming of a downtown lifestyle without compromising on space and tranquillity, this property promises a blend of both. Don't miss the chance to own a piece of London's heritage with a modern touch. *Some pictures have been virtually staged*
971 Ormsby St, London
4+1
BEDS
3
BATHS
$599,999
FOR SALE
This is a fantastic duplex located at 971 Ormsby Street in London, Ontario! This beautifully newly renovated property features two bedrooms and one bathroom on each floor, making it perfect for families or as an investment opportunity. The top floor boasts a private deck, ideal for relaxing outdoors, while the main floor includes a spacious backyard and patio perfect for summer gatherings. Ample parking is available for residents and guests. Situated in the vibrant city of London, this duplex is just a short drive from Lake Erie and is conveniently located near the prestigious University of Western Ontario, making it an excellent option for student leasing. Don't miss out on this gem. AC replaced in 2014, furnace replaced in 2024, majority of windows/doors replaced in 2024, entire house fully renovated in 2024. Don't miss out on this fantastic opportunity!
94 Stanley St, London
4+1
BEDS
3
BATHS
$699,000
FOR SALE
This property is located in a great location, walking distance to Downtown London and a short drive to Springbank park and Wortley Village. It is also on a direct Bus route to Western University and close to shopping and fine restaurants. This rental property has excellent income, with the main floor tenants paying $2200, upper unit paying $2100 and the vacant lower level having an income potential of $1200. Many recent updates on all 3 levels. All 3 units have their own laundry. There is plenty of parking in the back. The backyard is fully fenced and the main floor tenant has a large deck.
39 Yvonne Cres, London
2+2
BEDS
3
BATHS
$699,900
FOR SALE
Great investment opportunity or live in part and supplement your mortgage payments! This legal duplex is located in a newer family neighbourhood and centrally located, close to the banks of the Thames River. The main level unit has 2 bedrooms, 2 baths, and a family room, with patio doors off of the eating area that lead to the rear deck and fenced back yard. The main level also has access to the attached single car garage. The lower level is a 2 bedroom, one bath unit with a nice sized family room that also has its own laundry room. The utility room is in a common area at the base of the foyer. Great opportunity in a home that is only 8 years young. Vacant possession.
DIALOG CONTENT
Would you like to receive Similar Listing Alerts as soon as they are uploaded to MLS®?
How would you rate our website?
Would you like to rate us on Google?
Yes
1394228033