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50 IRWIN STREET, London North (North K) — listed at $1,197,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
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. (id:60164)
Is 50 IRWIN STREET a good fit for a growing family?+
With 11 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 $1,197,000, standout features include 5 bathrooms, 4 fireplaces. In this price range, expect higher-end finishes — verify during a showing.
How is the home heated? Is it efficient?+
Heating is natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
How is the space laid out across floors?+
This is a 2-storey multi-family. The 11 bedrooms and 5 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
What's the parking situation?+
This property includes 7 spaces — Detached Garage, Garage.
Does it have a basement, and is it finished?+
The listing describes the basement as: Full. Confirm the finishing status during a showing — it affects both livable space and resale value.
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