140 RIDOUT Street
London South, N6C 3X6·MLS® X13243444·
Listing courtesy of Century 21 Percy Fulton LTD.·Updated 3 days ago
Listing price
$1,799,900
Est. $8,572/mo
Days on market
Listed Jun 4, 2026
Description
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.
Property details
Basement
Walk-Out, Separate Entrance
Parking
6 spaces
Type
Multiplex — 2-Storey
Heating
Other
AI property estimate
82% confidence · 8 comparable sales analysed
Location & neighbourhood
London South, ON
Mid-south residential area built around Highland Country Club with well-maintained homes.
Monthly payment estimate
Land transfer tax
Ontario LTT
$32,473
First-time rebate
−$4,000
First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.
Price & listing history
Sold comparables nearby
Sold$1,000,000
136 Elmwood Avenue, London South
Sold$1,125,000
179 Devonshire Avenue, London South
See all 8 comparables
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Market conditions · South F
Avg. sold price
$682,400
+5.2%
Avg. days on market
18
−3d
Sale-to-list ratio
101.2%
+0.8%
Investment analysis
Est. monthly rent
$7,200
Rental yield
4.8%
Est. cash flow
-$3,947
Cap rate
3.3%
Best time to sell
Affordability
Minimum household income required
$418,025
Based on 20% down, 5.24% stress test rate, 25yr amortization, 32% GDS ratio.
Similar Listings
AI estimate
$1,855,697
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