50 Irwin Street · London, N5G 1C8
MLS® X13769512
Listed Sep 10, 2026
Listing courtesy of Rock Star Real Estate Inc., Brokerage·Listing last changed 2 hours ago
Key facts
- Property type
- Multiplex
- Square footage
- 3,000-3,500 sqft
- Lot size
- 48.8 × 117 ft
- Parking
- 7 spaces
- Property tax
- $11,572/yr (2026)
Description
PRIME WESTERN UNIVERSITY LOCATION! 50 Irwin Street is a turnkey legal 5-unit residential multiplex featuring a high-density 11-bedroom layout directly adjacent to Western University. Offered at an attractive 7.0% Cap Rate, the property delivers excellent Gross Operating Income and a 1.60 Debt Coverage Ratio, supported by strong student rental demand and supplemental coin laundry income. Additional income potential exists through the detached garage. Fully tenanted and designed for efficient ownership, and includes separate hydro metering and five dedicated parking spots. This is a compelling opportunity to acquire a cash-flowing asset in London's premier academic rental corridor, offering immediate income, strong debt coverage, and long-term appreciation potential.
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Property details
Interior
- Size
- 3,000-3,500 sqft
- Bedrooms
- 8 above grade, 3 lower level
- Rooms
- 16 rooms · 4 kitchens
- Bathrooms
- 2 × 4-piece on Main, 2 × 4-piece on Second, 1 × 4-piece on Basement
- Basement
- Full
- Heating
- Water
- Cooling
- None
Building & lot
- Type
- Multiplex, 2-Storey
- Lot size
- 48.8 × 117 ft
- Exterior
- Brick
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Water & sewer
- Sewer
Parking
- Garage
- 2 car Detached
- Driveway
- Private Triple (5 spaces)
- Parking
- 7 spaces
Fees & taxes
- Property tax
- $11,572/yr (2026)
Estimated value range
$1.1M to $1.3M
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.
Location & neighbourhood
DirectionsLondon North, ON
Residential neighbourhood bordering Western University, popular with faculty and professionals.
Schools nearbyclosest is Jeanne-Sauvé Public School, 430 m
Elementary
- 7.1
Jeanne-Sauvé Public School
430 m · Grades JK-8
Thames Valley District School Board
- 6.0
Eagle Heights Public School
1.2 km · Grades JK-8
Thames Valley District School Board
- 7.8
University Heights Public School
1.2 km · Grades JK-8
Thames Valley District School Board
Secondary
- 8.0
London Central Secondary School
1.7 km · Grades 9-12
Thames Valley District School Board
- 5.7
Catholic Central High School
2.2 km · Grades 9-12
London District Catholic School Board
- 5.3
H B Beal Secondary School
2.5 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. $7,071/mo all in
Monthly payment estimate
Land transfer tax$20,415 on closing
Ontario LTT
$20,415
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 Sep 10, 2026
Sold comparables nearby
Sold292 Central Avenue, London East
Sold302 central Avenue, London East
See what these 4 homes sold for
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Market conditionsBuyer’s market in London
7 months of inventory: buyers have more options and negotiating power. Nearby, 4 sales in the last 90 days went for an average of 89.8% of asking.
Avg. sold price
$857,500
Sale-to-list ratio
89.8%
Based on 4 recent comparable sales near this home.
Affordabilityneeds $295,000 household income
Minimum household income required
$295,000
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.
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