Homes for Sale in London, Ontario
1071.5 Florence Street
London East, N5W 2M7·MLS® X13589054·
Listing courtesy of Right At Home Realty·Updated 4 hours ago
Listing price
$549,900
Est. $2,619/mo
Days on market
Listed Jul 21, 2026
Description
Rare opportunity to own a legal two-storey triplex on a generous 37.09 ft x 168.63 ft lot in one of London's rapidly growing neighbourhoods. The exceptional depth of the property offers a private setting, excellent long-term value, and potential for future development, subject to municipal approvals.Certified as a legal triplex by the City of London, this versatile property features two vacant units, allowing the new owner to move in, choose their own tenants, or lease immediately at current market rents. The third unit is already leased at above-market rent, providing reliable income from day one.Ideally located with a bus stop at the doorstep and within walking distance to the Hard Rock Hotel, casino, restaurants, entertainment district, and other major amenities, this property is well positioned to attract quality tenants and may also appeal to buyers considering short-term accommodation opportunities, subject to municipal regulations.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), offering added value and peace of mind.Additional features include separate entrances, separate hydro meters, four parking spaces, coin-operated laundry for additional income, and a private, tree-lined backyard with a paved patio and fire pit.Whether you're an investor seeking a strong income-producing property or an owner-occupier looking to offset your mortgage with rental income, this well-maintained legal triplex offers an outstanding combination of location, flexibility, income potential, and valuable updates.
Property details
Basement
Apartment, Separate Entrance, Full, Finished
Parking
4 spaces
Type
Detached — 2-Storey
Heating
Baseboard
AI property estimate
74% confidence · 19 sold homes within 2 km, by price per sq ft
Location & neighbourhood
London East, ON
Expansive east London district with parks and a wide range of affordable to mid-range housing.
Monthly payment estimate
Land transfer tax
Ontario LTT
$7,473
First-time rebate
−$4,000
First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.
Price & listing history
Sold comparables nearby
Sold$432,000
1301 King Street, London East
Sold$399,322
453 Salisbury Street, London East
See all 10 comparables
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Market conditions · East M
Avg. sold price
$682,400
+5.2%
Avg. days on market
18
−3d
Sale-to-list ratio
101.2%
+0.8%
Investment analysis
Est. monthly rent
$2,200
Rental yield
4.8%
Est. cash flow
-$1,380
Cap rate
3.2%
Best time to sell
Affordability
Minimum household income required
$134,241
Based on 20% down, 5.24% stress test rate, 25yr amortization, 32% GDS ratio.
Similar Listings
AI estimate
$437,000
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