380-390 Princess Avenue
London East, ON
- 0.84 sqft
- Investment
- 301 days on market
Located at 380-390 Princess Avenue in London, Ontario, this purpose-built multifamily asset comprises 88 rental units across two well-maintained buildings, completed in 2010 and 2017. The properties feature modern construction, efficient layouts, and stable cash flow supported by additional income from parking and on-site laundry facilities.The asset participates in a Municipal Contribution Agreement (MCA) with the City of London, which provides forgivable loans totaling approximately $9.25 million. These zero-interest loans were advanced to support the delivery of affordable housing and are fully forgivable over time, provided the affordability requirements continue to be met. The remaining affordability periods extend to May 31, 2042 for 380 Princess Avenue and September 30, 2035 (phasing out from 2030) for 390 Princess Avenue. This municipal partnership ensures a stable tenant base and predictable revenue profile while aligning with growing demand for affordable rental housing in London. The buildings require minimal near-term capital expenditure and offer investors the opportunity to own a well-performing, government-supported housing asset with strong in-place income and long-term value appreciation potential once the affordability period concludes.
Listing Details
- Taxes (2025)
- $126,652
- Originally Listed
- $12,200,000
- Listed
- November 5, 2025
Price History
Property
- Lot Size
- 198 x 182 Feet
Parking
- Garage
- Outside/Surface
Utilities
- Sewer
- Sanitary+Storm
Location & Legal
- Cross Street
- Princess Ave & Colborne St
- Zoning
- R8-4 (20) *H15*B-18
- Parcel Number
- 082700081
- Possession
- Immediate
- Occupancy
- Tenant
Commercial
- Business Type
- Apts - Over 20 Units
Included
- Inclusions
- All tenant belongings
Property Insights
AI-generated from listing photos. Not professional advice.
Community
Postal area N6B
- Population
- 11,101
- Private dwellings
- 7,181
- Median age
- 38
- Average household size
- 1.6
- Median household income
- $49,200
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in London East · last 12 months
- Median sold price
- $460,000
- Homes sold
- 1,318
- Median days on market
- 25
- Sale-to-list price
- 97.0%
Based on 1,318 recorded sales of commercial properties in London East over the last 12 months.
Listed by
COLLIERS
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Annual property tax
- $126,652
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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