653 Talbot Street

Description

INVESTOR & DEVELOPER ALERT! 9 BEDROOMS 7 BATHROOMS 3 SELF-CONTAINED UNITS. Prime opportunity in the heart of London. 653 Talbot presents a fully renovated, turnkey triplex with strong in-place income and exceptional future upside. Completely gutted to the studs and rebuilt in 2018, with a new roof completed in 2024, this property offers peace of mind with no immediate major capital expenditures anticipated. The building features three self-contained, separately metered units, comprising a total of 9 bedrooms and 7 bathrooms, with each unit also having its own separate HVAC system. The property is currently generating $2,600/month from Unit 1, $3,370/month from Unit 2, and $4,720/month from Unit 3, for a total of $10,690/month or $128,280 annually. Existing leases provide strong, reliable cash flow, while the property's zoning offers significant future development and intensification potential. Permitted uses include residential intensification such as single detached, semi-detached, duplex, triplex, fourplex and converted dwellings, as well as certain institutional and community uses including private schools, day care centres, places of worship and more. Buyers are advised to complete their own due diligence with the municipality and applicable regulatory authorities regarding zoning, permitted uses, development potential, income and expenses. Located in vibrant downtown London, the property offers excellent walkability to restaurants, shopping, transit and key amenities, enhancing both tenant demand and long-term value. An exceptional addition to any investment portfolio, combining immediate income, extensive renovations and long-term redevelopment potential.