50 IRWIN Street

London North, N5G 1C8·MLS® X13769512

Listing courtesy of Rock Star Real Estate Inc., Brokerage·Updated 12 hours ago

Listing price

$1,197,000

Est. $5,701/mo

Days on market

Listed Sep 10, 2026

For sale

1 / 31

8bd·5ba·3,000-3,500sqft

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.

Property details

Type: Multiplex, 2-Storey
Lot size: 48.8 × 117 ft
Interior: 3000-3500 sqft
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
Exterior: Brick
Foundation: Concrete
Roof: Asphalt Shingle
Water & sewer: Sewer
Garage: 2 car Detached
Driveway: Private Triple (5 spaces)
Parking: 7 spaces
Property tax: $11,572/yr (2026)

AI property estimate

$1,106,004Estimate is ~7.6% below asking

Automated estimate from recent comparable sales, not a formal appraisal, and not a statement that this listing is priced incorrectly.

$995,404$1,216,604

60% confidence · 14 sold homes within 2 km, by price per sq ft

Location & neighbourhood

Downtown London →

London North, ON

Urban core with condos, restaurants, and transit access.

Monthly paymentMortgage, tax and fees

Monthly payment estimate

Mortgage (5.24%, 25yr)$5,701

Property tax$1,297

Insurance (est.)$249

Utilities (est.)$250

Total monthly$7,497

Land transfer taxOne-time, 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 2 times

$1,197,000

Listed Sep 10, 2026

On the market

$1,197,000

Listed Sep 10, 2026

On the market

Sold comparables nearby

Sold

$645,000

292 Central Avenue, London East

7 bd·4 ba·3,500-5,000 sqft

Sold

$815,000

302 central Avenue, London East

7 bd·6 ba·< 700 sqft

See what these 5 homes sold for

Create a free account to unlock premium data.

Market conditionsDowntown London · last 90 days

Buyer's marketBalancedSeller's market

Avg. sold price

$1,336,000

Sale-to-list ratio

88.5%

Based on 5 recent comparable sales near this home.

AffordabilityWhat income this home needs

Minimum household income required

$306,000

Based on 20% down, a 7.24% qualifying rate (the 5.24% contract rate plus two points), 25 year amortization and a 32% GDS ratio. Rounded to the nearest thousand.

Not sure about financing? Ask Colin →