$639,000
Est. $2,994/mo mortgage
552 Adelaide Street · London East, N6B 3J5
MLS® X12890858
Listed Mar 17, 2026
Listing courtesy of Sutton Group - Select Realty·Updated Mar 17
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 $3600 per month (upper leased until Nov 2026 - $1450, and main is month to month - $2150) with tenants paying all utilities. Tenants are planning on staying. Fully funded this property has a capitalization rate about 5.5% 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.
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Property details
Interior
- Interior
- 1500-2000 sqft
- Rooms
- 9 rooms · 2 kitchens
- Bathrooms
- 1 × 4-piece on Main, 1 × 4-piece on Second
- Basement
- Partially Finished
- Heating
- Baseboard
- Cooling
- Central Air, Window Unit(s)
Building & lot
- Type
- Duplex, 2-Storey
- Lot size
- 32 × 120 ft
- Exterior
- Brick
- Foundation
- Block
- Roof
- Asphalt Shingle, Metal
- Water & sewer
- Sewer
Parking
- Parking
- 4 spaces
Fees & taxes
- Property tax
- $2,849/yr (2025)
AI property estimate
Automated estimate from recent comparable sales, not a formal appraisal, and not a statement that this listing is priced incorrectly.
80% confidence · 40 sold homes within 2 km, by price per sq ft
Location & neighbourhood
DirectionsLondon East, ON
Heritage neighbourhood with Victorian-era homes on tree-canopied streets near downtown.
Monthly paymentest. $3,762/mo all in
Monthly payment estimate
Land transfer tax$9,255 on closing
Ontario LTT
$9,255
First-time rebate
−$4,000
First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.
Price & listing history
Listed 2 times over 1 month · asking price up 7% from the first ask · sold 1% above the final ask
Listed Mar 17, 2026
Listed Apr 5, 2023 · 42 days on market
May 17, 2023
Earlier listings for this property are shown to registered users under our VOW agreement with LSTAR.
42 days on the market in total across 2 listings. Each listing carries its own MLS® number, so the days-on-market shown on any single one resets.
Sold comparables nearby
Sold$660,000
578 Waterloo Street, London East
Sold$685,000
142 John Street, London East
See what these 6 homes sold for
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Market conditionsBuyer's market in London East
Homes here are selling below asking. Based on 6 sales in the last 90 days, at an average of 95.9% of asking.
Avg. sold price
$512,000
Sale-to-list ratio
95.9%
Based on 6 recent comparable sales near this home.
Affordabilityneeds $156,000 household income
Minimum household income required
$156,000
Based on 20% down, a 7.07% qualifying rate (the 5.07% contract rate plus two points), 25 year amortization and a 32% GDS ratio. Rounded to the nearest thousand.
Not sure about financing? Ask Colin →Rental market$2,595/mo median for 4 bed nearby
$2,595/month is the median rent for 4-bedroom homes leased within 3km over the past 12 months, across 10 leases.
What comparable homes actually leased for, not an estimate of what this one would rent for. Rent depends on condition, finishes and timing in ways this figure cannot see.
Similar Listings
Your advisor
Oak and Key Real Estate Brokerage Inc.
Colin Abbot
Broker
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