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Key Details
Sold Price -
Property Type Multi-Family
Sub Type Multiplex
Listing Status Sold
Purchase Type For Sale
Approx. Sqft 3000-3500
Subdivision North K
MLS Listing ID X13769512
Sold Date -
Style 2-Storey
Bedrooms 8
Annual Tax Amount $11,571
Tax Year 2026
Property Sub-Type Multiplex
Property Description
PRIME WESTERN UNIVERSITY LOCATION! 50 Irwin Street is a turnkey legal 5-unit residential multiplex featuring a high-density 11-bedroom layout directly adjacent to Western University. Offered at an attractive 7.0% Cap Rate, the property delivers excellent Gross Operating Income and a 1.60 Debt Coverage Ratio, supported by strong student rental demand and supplemental coin laundry income. Additional income potential exists through the detached garage. Fully tenanted and designed for efficient ownership, and includes separate hydro metering and five dedicated parking spots. This is a compelling opportunity to acquire a cash-flowing asset in London's premier academic rental corridor, offering immediate income, strong debt coverage, and long-term appreciation potential.
Location
Province ON
County Middlesex
Area Middlesex
Zoning R2-3(2)
Rooms
Family Room No
Basement Full
Kitchen 5
Separate Den/Office 3
Interior
Interior Features None
Cooling None
Fireplaces Number 4
Exterior
Parking Features Private Triple
Garage Spaces 2.0
Pool None
Roof Type Asphalt Shingle
Lot Frontage 48.8
Lot Depth 117.0
Total Parking Spaces 7
Building
Foundation Concrete
New Construction false
Others
Senior Community Yes
ParcelsYN No
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