631 Elias Street · London, N5W 3N5
MLS® X13614444
Listed Jul 28, 2026
Listing courtesy of The Realty Firm INC.·Listing last changed Aug 28
Key facts
- Property type
- Duplex
- Square footage
- 1,500-2,000 sqft
- Lot size
- 27.5 × 150 ft
- Age
- 100+ years
- Parking
- 5 spaces
- Property tax
- $3,820/yr (2026)
Description
Turnkey Investment Opportunity in Old East Village! This charming yellow brick duplex at 631 Elias Street is fully leased and cash-flowing from day one, offering a rare chance to add a hassle-free, income-producing property to your portfolio. Both units are occupied by reliable tenants, delivering $2,633/month in combined gross rent with tenants responsible for their own hydro and gas.The upper unit is a bright, spacious 2-bedroom with a unique layout: one bedroom on the main floor and a second bedroom upstairs. It's now leased at $1,550/month plus hydro and gas and features its own private laundry, electric baseboard heating, and the added comfort and charm of a gas fireplace.The lower unit is home to a reliable, long-term tenant currently paying $1,083/month, with its own separate laundry and forced-air gas heating.Both units are separately metered for hydro and gas, with tenants covering their own utilities. The owner pays water only, keeping expenses low and predictable.Recent updates take the guesswork out of ownership. The roof was redone in three phases between 2018 and 2021, the bathtub was refinished in 2023, a new washer was installed in 2023, a new gas fireplace insert was added in 2025, and the deck was rebuilt in 2026.With two stable tenancies in place, separately metered utilities, private laundry in each unit, and a strong list of recent updates, 631 Elias Street is ready for an investor to step in and start collecting rent immediately. No vacancy, no renovation, no delay. Ideally located close to downtown, public transit, schools, parks, and the shops, cafés, breweries, and restaurants that make Old East Village one of London's most exciting and evolving neighbourhoods.
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Property details
Interior
- Size
- 1,500-2,000 sqft
- Rooms
- 11 rooms · 2 kitchens
- Bathrooms
- 2 × 4-piece on Second
- Basement
- Unfinished
- Heating
- Baseboard
- Cooling
- Window Unit(s)
Building & lot
- Type
- Duplex, 1 1/2 Storey
- Age
- 100+ years
- Lot size
- 27.5 × 150 ft
- Exterior
- Brick
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Water & sewer
- Sewer
Parking
- Driveway
- Private (5 spaces)
- Parking
- 5 spaces
Fees & taxes
- Property tax
- $3,820/yr (2026)
Rooms
Main
- Living Room
- 3.44 × 3.78 m
- Dining Room
- 3.86 × 2.62 m
- Kitchen
- 3.3 × 3.6 m
- Primary Bedroom
- 5.78 × 3.02 m
- Bedroom
- 2.92 × 3.96 m
Second
- Primary Bedroom
- 2.8 × 4.24 m
- Dining Room
- 3.33 × 2.36 m
- Living Room
- 3.25 × 2.9 m
- Kitchen
- 2.7 × 2.9 m
Estimated value range
$441K to $485K
An automated range from recent comparable sales nearby. It is not an appraisal and says nothing about whether this home is priced correctly; condition, finishes and timing are outside what it can see.
Based on a model of 13,409 London sales through September 2026; it lands within 10% of the sold price on 64% of homes. Shown within 5% of the asking price.
Schools nearbyclosest is Woodfield French Immersion Public School, 610 m
Elementary
- 7.8
Woodfield French Immersion Public School
610 m · Grades JK-8
Thames Valley District School Board
- 9.3
St Mary School
780 m · Grades 5-8
London District Catholic School Board
- 4.2
East Carling Public School
1.3 km · Grades JK-8
Thames Valley District School Board
Secondary
- 5.3
H B Beal Secondary School
770 m · Grades 9-12
Thames Valley District School Board
- 5.7
Catholic Central High School
910 m · Grades 9-12
London District Catholic School Board
- 8.0
London Central Secondary School
1.1 km · Grades 9-12
Thames Valley District School Board
Distances are straight-line from this address. School boards set their own attendance areas and do not publish them, so a school listed here is not a guarantee of placement. Confirm with the board before you rely on it.
Monthly paymentest. $2,839/mo all in
Monthly payment estimate
Land transfer tax$5,755 on closing
Ontario LTT
$5,755
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 Jul 28, 2026
Earlier listings for this property are shown to registered users under our VOW agreement with LSTAR.
Sold comparables nearby
Sold1 & 2 - 737 William Street, London East
Sold98 Cartwright Street, London East
See what these 6 homes sold for
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Market conditionsBuyer’s market in London
6.1 months of inventory: buyers have more options and negotiating power. Nearby, 6 sales in the last 90 days went for an average of 92.9% of asking.
Avg. sold price
$446,833
Sale-to-list ratio
92.9%
Based on 6 recent comparable sales near this home.
Affordabilityneeds $116,000 household income
Minimum household income required
$116,000
Based on 20% down, a 7.07% qualifying rate (the 5.07% contract rate plus two points), 25 year amortization, this home's listed property tax and a 32% GDS ratio. Rounded to the nearest thousand.
Not sure about financing? Call Colin at (226) 212-5099 or text
Rental market$2,200/mo median for 3 bed nearby
$2,200/month is the median rent for 3-bedroom homes leased within 3km over the past 12 months, across 61 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.
Get notified about similar homes
New duplex listings in Old East Village.
Colin Abbot, Broker
Oak and Key Real Estate Brokerage Inc., Brokerage, 490 Melcrest Road, London, ON N6J 3T1, Phone: (226) 212-5099
Not intended to solicit clients already under contract.
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