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50 IRWIN Street, London, ON N5G 1C8

$1,197,000
: 11
BD
: 5
BA
: 3,000
SqFt

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List Price: $1,197,000
MLS#: X13769512
Status: ACTIVE
Type: Multifamily
SubType: Multiplex
Style: 2-Storey
Bedrooms: 11
Bathrooms: 5
Living Area: 3000-3500
Province: ON
Municipality: London
Area: Middlesex
Neighborhood: North
Subdivision: Wharncliffe Rd N & Oxford St W

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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.

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Additional Information

Taxes: $11,571
Heat Type: Water
Heat Source: Gas
Air Conditioning: None
Kitchens: 5
Exterior: Brick
Waterfront Type: None
Garage Spaces: 2
Garage Type: Detached
Pool: None
Parking Spaces: 7
Parking Type: Private Triple