92 Rectory Street London East, Ontario N5Z 1Z8

$224,900

LEGAL LICENSED TRIPLEX IN THE CORE OF LONDON - HIGH-YIELD, TURNKEY OPPORTUNITY. This fully legal and licensed triplex delivers immediate cash flow with strong fundamentals and built-in upside, positioned in one of London's most accessible and high-demand rental corridors. Featuring stable, long-term tenants who are cooperative and easy to manage, this asset is ideal for investors seeking reliable income with minimal operational friction. Current rents are: Unit #1 at $1,200/month plus electricity, Unit #2 at $941/month, and Unit #3 at $729/month. A vacant double room in Unit #3 presents an immediate value-add opportunity to increase revenue from day one. Professional property management is already in place and may be retained, offering a seamless, turnkey transition. Rental license documentation is available, providing confidence and compliance for investors.Strategically located near downtown, transit, and key amenities, this property benefits from consistent tenant demand and long-term rental stability. A rare opportunity to acquire a compliant multi-family asset with strong in-place income, operational ease, and clear upside potential in a proven location. Ideal for investors looking to scale their portfolio with a low-maintenance, high-efficiency property.Unit #3 includes a vacant double room, creating immediate upside.Conservative Upside Scenario:Add second room rental (est.): $600/month Projected Monthly Rent: $3,470Projected Annual Rent: $41,640Cap Rate (Assuming ~30% expenses typical for triplex)Current NOI: ~$24,108Current Cap Rate: ~10.7%Pro Forma NOI: ~$29,148Pro Forma Cap Rate: ~13.0% (id:25517)

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https://www.realtor.ca/real-estate/29708450/92-rectory-street-london-east-east-l-east-l