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140 RIDOUT STREET S, London South (South F) — listed at $1,799,900. Earn buyer cashback at closing. No catches, just more money in your pocket.
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:60164)
Is 140 RIDOUT STREET S a good fit for a growing family?+
With 8 bedrooms and 5 bathrooms, there's room for kids plus a guest room or home office. The 2-storey layout keeps living and sleeping areas separated.
What makes this a luxury property?+
At $1,799,900, standout features include 5 bathrooms. In this price range, expect higher-end finishes — verify during a showing.
What's the parking situation?+
This property includes 6 spaces — No Garage.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $6,969, heating is natural gas, other. Always verify the latest figures with your agent before making an offer — these change yearly.
How is the home heated? Is it efficient?+
Heating is natural gas, other. Gas heating is generally the most cost-efficient option in Ontario winters.
Could this work as an investment property?+
The basement description mentions: Separate entrance, Walk out, N/A, N/A. If it has a separate entrance, there may be rental income potential — but verify zoning and whether a legal second unit is permitted in London South (South F) before counting on it.
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