140 RIDOUT Street
London South, ON
- 8 bed
- 5 bath
- approx. 2500-3000 sqft
- Multiplex
- 91 days on market
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.
Listing Details
- Taxes (2025)
- $6,969
- Listed
- June 3, 2026
Price History
Property
- Style
- 2-Storey
- Age
- 51-99
- Construction
- Other
- Roof
- Asphalt Shingle
- Foundation
- Block, Concrete Block
- Interior
- Other
Parking
- Garage
- None
- Covered Spaces
- 0
- Total Parking
- 6
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- RIDOUT STREET SOUTH NEAR FERGUSON PLACE
- Zoning
- R2-2
- Parcel Number
- 083730009
- Possession
- Flexible
- Occupancy
- Tenant
Schools
Secondary
- London South Collegiate Institute0.4 km
Public · Thames Valley DSB · 880 students
Grade 10 literacy: 73% met the provincial standard
- Catholic Central High School2 km
Catholic · London District Catholic School Board · 1310 students
Grade 10 literacy: 89% met the provincial standard
- London Central Secondary School2 km
Public · Thames Valley DSB · 955 students
Grade 10 literacy: 91% met the provincial standard
Elementary
- Wortley Road Public School0.5 km
Public · Thames Valley DSB · 250 students
Grade 3 reading: 77% met the provincial standard · Grade 6 math: 50% met the provincial standard
- Tecumseh Public School0.5 km
Public · Thames Valley DSB · 345 students
Grade 3 reading: 74% met the provincial standard · Grade 6 math: 53% met the provincial standard
- St Martin Separate School0.5 km
Catholic · London District Catholic School Board · 455 students
Grade 3 reading: 66% met the provincial standard · Grade 6 math: 42% 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 N6C
- Population
- 30,629
- Private dwellings
- 14,812
- Median age
- 41.6
- Average household size
- 2.1
- Median household income
- $75,500
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 South · last 12 months
- Median sold price
- $585,000
- Homes sold
- 1,898
- Median days on market
- 27
- Sale-to-list price
- 97.5%
Based on 1,898 recorded sales of residential freehold properties in London South over the last 12 months.
Listed by
CENTURY 21 PERCY FULTON LTD.
Walk Score
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Location
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Mortgage Calculator
$359,980
Estimated Monthly Payment
$8,842
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $8,842/mo (20% down, 5.5%)
Taxes: $581/mo · Insurance: $450/mo
Estimates only. Consult a financial advisor.
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