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140 Ridout Street S, London South, Ontario N6C 3X6

Listed for:
$1,799,900
8 beds
5 baths
Listed 27 days ago
Other for rent: 140 Ridout Street S, London South, Ontario N6C 3X6

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About

RIDOUT STREET SOUTH NEAR FERGUSON PLACE 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:27476)

Property Highlights

MLS® Number
X13243444
Type
Multi-family
Community Name
South F
Land Size
47.2 x 147.1 Acre|under 1/2 acre
Parking Space Total
6

Building

Building Type
Other
Storeys
2.00
Square Footage
2500 - 3000 sqft
Bathrooms Total
5
Bedrooms Above Ground
8
Bedrooms Total
8
Amenities
Hospital
Fireplace Present
No
Basement Type
N/A, N/A
Basement Features
Walk out, Separate entrance
Building Heating Type
Other
Heating Fuel
Natural gas
Building Cooling Type
None

Utilities

Water
Municipal water
Utility Sewer
Sanitary sewer

Location

Learn more about this property
Listing provided by:
CENTURY 21 PERCY FULTON LTD.
MLS® number:
X13243444
Agent:
Sean Roland
Phone:
(416) 298-8200
*Indicates required field
Name is required
Email is required
Please enter a valid phone number (e.g., 416-111-1111).

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Listing provided by: CENTURY 21 PERCY FULTON LTD.
Learn more about this property
Listing provided by:
CENTURY 21 PERCY FULTON LTD.
MLS® number:
X13243444
Agent:
Sean Roland
Phone:
(416) 298-8200
*Indicates required field
Name is required
Email is required
Please enter a valid phone number (e.g., 416-111-1111).