551 Adelaide Street
London East, ON
5 bed • 4 bath • approx. 2000-2500 sqft • Triplex • 130 days on market
551 Adelaide Street North presents a rare chance to own a well-maintained, solid brick fully tenanted triplex with versatile Arterial Commercial (AC2(4)) zoning in a prime, high-visibility location. This charming century property shows pride of ownership throughout, with major updates completed: shingles (2010), furnace (2016), windows (2007 and 2013), three electrical panels, and three owned hot water tanks.The building is fully rented to long-term, reliable tenants. Each unit includes its own washer and dryer, ensuring strong tenant satisfaction and consistent rental demand. The upper unit is a spacious 2-bedroom, 2 full-bathroom loft-style apartment with two private entrances, rented at $1,448.43/month inclusive. The main floor features a 1-bedroom plus den unit rented at $1,250/month inclusive, and the lower 1-bedroom unit is rented at $1,127.50/month inclusive.Situated on a deep 34x127 ft lot, the property offers flexibility for practical enhancements such as additional parking or storage solutions. Investors will appreciate the strong structure, stable income, and the potential to enhance returns through rent optimization, cosmetic updates, and operational efficiencies with utilities or insurance. Located on a major transit corridor and close to pharmacies, grocery stores, and the downtown core, this triplex is an excellent option for investors seeking reliable income in a desirable, commercially zoned location. A must-see for those looking to secure a versatile, income-producing asset. Full Financial Summary & Rent Roll Available.
Listing Details
- Taxes (2025)
- $4,244
- Listed
- April 21, 2026
Price History
Listing history
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Property
- Style
- 2 1/2 Storey
- Construction
- Brick
- Roof
- Shingles
- Foundation
- Concrete
- Interior
- Separate Heating Controls, Separate Hydro Meter, Water Heater Owned
- Lot Size
- 34 x 123.54 Feet
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- Adelaide & Princess
- Zoning
- AC
- Parcel Number
- 082770092
- Possession
- Flexible
Commercial
- Occupancy
- Tenant
Included
- Inclusions
- Washer/Dryer x 3 (as is), Owned HWT x3, Refrigerator x3 (as is), Stove x3 (as is), Dishwasher x1(as is)
- Exclusions
- All Tenant's Belongings
Schools
Elementary
- Woodfield French Immersion Public School0.5 km
Public · Thames Valley DSB · 270 students
Grade 3 reading: 88% met the provincial standard · Grade 6 math: 52% met the provincial standard
- St Mary School0.7 km
Catholic · London District Catholic School Board · 230 students
Grade 6 math: 85% met the provincial standard
- St Georges Public School1.3 km
Public · Thames Valley DSB · 275 students
Grade 3 reading: 70% met the provincial standard · Grade 6 math: 81% met the provincial standard
Secondary
- H B Beal Secondary School0.7 km
Public · Thames Valley DSB · 1525 students
Grade 10 literacy: 79% met the provincial standard
- Catholic Central High School0.8 km
Catholic · London District Catholic School Board · 1310 students
Grade 10 literacy: 89% met the provincial standard
- London Central Secondary School1 km
Public · Thames Valley DSB · 955 students
Grade 10 literacy: 91% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
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
Residential Freehold in London East · last 12 months
- Median sold price
- $462,500
- Homes sold
- 1,306
- Median days on market
- 24
- Sale-to-list price
- 97.0%
Based on 1,306 recorded sales of residential freehold properties in London East over the last 12 months.
Listed by
CENTURY 21 FIRST CANADIAN CORP
Location
Street View
Mortgage Calculator
$124,980
Estimated Monthly Payment
$3,070
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $3,070/mo (20% down, 5.5%)
Taxes: $354/mo · Insurance: $156/mo
Estimates only. Consult a financial advisor.
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