$ 1,799,900
140 Ridout Street S
140 Ridout Street S, London South, ON N6C3X6 Photo 1
30 Photos
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140 Ridout Street S, London South

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. (id:1945)
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Property details for 140 Ridout Street S, London South

Type
Multi-family
Bedrooms
8
Bathrooms
5
Lot Size
47.2 x 147.1 Acre
Stories
2
Basement
Separate entrance, Walk out, N/A, N/A
Parking
No Garage
Heating
Natural gas, Other
Cooling
None
Annual Taxes
$6,969

Nearby Listings Stat

Estimated price and comparable properties near 140 Ridout Street S

Active Listings
2
Min Price
$1,799,900
Max Price
$2,000,000
Avg Price
$1,899,950
Days on Market
108
days
Sold Listings
0
Min Sold Price
$N/A
Max Sold Price
$N/A
Avg Sold Price
$N/A
Days until Sold
N/A
days

Neighbourhood Census Data

London, Ontario

Population
441
Median Age
42
Median Income
$31,936
Dwelling Value
$450,084

Housing Tenure

Owners 23%
Renters 77%

Age Distribution

Dwelling Types

Commute Mode

Education Level

Housing Age

Commute Duration

Avg Household Size: 1.6
Pop. Density: 4,589.0/km²
Avg Shelter Cost: $1,556/mo
Owners with Mortgage: 58.3%
Owners Spending 30%+: 0%
Tenants Spending 30%+: 58.5%
English only: 87.5%
English and French: 12.5%
Neither: 1.1%
Median Household Income: $40,064
Median Employment Income: $31,328

Price History

Listed
June 4, 2026
by CENTURY 21 PERCY FULTON LTD.
Current Price
$1,799,900
Type
Multi-family
For Sale
140 Ridout Street S

Contact Agent Get in touch about 140 Ridout Street S, London South

SEAN ROLAND
CENTURY 21 PERCY FULTON LTD.

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