Description
Rare opportunity to acquire a fully renovated, purpose-built five-unit apartment building in the highly sought-after Old South London neighbourhood, just minutes from Downtown, Victoria Hospital, and Wortley Village. This turnkey investment offers exceptional income potential with projected gross rents of approximately $10,000/month and four vacant units, allowing investors to establish market rents immediately.The building features an excellent unit mix of three spacious two-bedroom apartments and two one-bedroom units, with potential to convert the one-bedroom suites into additional two-bedroom layouts for increased revenue. Extensive renovations have eliminated deferred maintenance and include a new roof (2021), eavestroughs (2023), windows (2025), exterior insulation upgrades, attic insulation upgraded to R60, and private balconies for each unit.All suites have been modernized with open-concept layouts, updated kitchens with quartz countertops, renovated bathrooms, stainless steel appliances, in-suite laundry, individual heat-pump split AC systems, and enhanced soundproofing. Major infrastructure upgrades include new plumbing, updated electrical wiring, 400-amp service, and separate hydro meters, allowing tenants to pay their own utilities. Safety features include 60-minute fire-rated doors and a basement sprinkler system.Additional amenities include private storage lockers, a fully paved rear parking area for over eight vehicles, and EV-charger-ready infrastructure. This low-maintenance, high-yield asset offers strong cash flow, long-term appreciation potential, and a premium multifamily investment opportunity in one of London’s most desirable rental markets.
View full listing detailsListing Details
| Price: | $1,799,900 CAD |
|---|---|
| Address: | 140 Ridout Street S |
| City: | London South |
| State: | Ontario |
| Zip Code: | N6C 3X6 |
| MLS: | X13243444 |
| Bedrooms: | 8 |
| Bathrooms: | 5 |
| roof: | Asphalt Shingle |
|---|---|
| uffi: | No |
| sewer: | Sewer |
| cooling: | None |
| country: | CA |
| taxYear: | 2025 |
| basement: | Walk-Out, Separate Entrance |
| garageYN: | no |
| heatType: | Other |
| lotDepth: | 147.13 |
| lotWidth: | 47.17 |
| coolingYN: | no |
| mlsStatus: | New |
| cityRegion: | South F |
| directions: | RIDOUT STREET SOUTH NEAR FERGUSON PLACE |
| elevatorYN: | no |
| garageType: | None |
| heatSource: | Gas |
| rollNumber: | 393606029002300 |
| surveyType: | Unknown |
| waterfront: | None |
| fireplaceYN: | no |
| lotSizeUnits: | Acres |
| parkingTotal: | 6 |
| poolFeatures: | None |
| waterfrontYN: | no |
| kitchensTotal: | 5 |
| lotSizeSource: | GeoWarehouse |
| parkingSpaces: | 6 |
| approximateAge: | 51-99 |
| contractStatus: | Available |
| directionFaces: | South |
| hstApplication: | Included In |
| possessionType: | Flexible |
| washroomsType1: | 5 |
| centralVacuumYN: | no |
| denFamilyroomYN: | no |
| livingAreaRange: | 2500-3000 |
| parkingFeatures: | Private |
| roomsAboveGrade: | 16 |
| taxAnnualAmount: | 6969 |
| transactionType: | For Sale |
| accessToProperty: | Paved Road |
| ensuiteLaundryYN: | no |
| interiorFeatures: | Other |
| propertyFeatures: | Hospital |
| foundationDetails: | Block, Concrete Block |
| lotSizeRangeAcres: | < .50 |
| newConstructionYN: | no |
| washroomsType1Pcs: | 4 |
| architecturalStyle: | 2-Storey |
| bedroomsAboveGrade: | 8 |
| kitchensAboveGrade: | 5 |
| specialDesignation: | Unknown |
| constructionMaterials: | Other |
Photos
Listing courtesy of CENTURY 21 PERCY FULTON LTD..
Listing data ©2026 PropTx. Information deemed reliable but not guaranteed by PropTx. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. Data last updated: Sunday, July 26th, 2026?06:52:47 PM.
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