About 140 Ridout Street S
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:6289)
More Info on this South F Other MLS® listing
140 Ridout Street S is an other listing for sale in London South (South F). The MLS® number is X13243444. It features 8 bedrooms, 5 bathrooms. It's currently listed for $1,799,900. For more details on MLS® X13243444, including price history, disclosures, or to schedule a private showing, fill out the form on this page. This other listing in South F is available now!
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