For Lease · Multifamily

261 CLARENCE STREET, London East (East K)

261 CLARENCE STREET, London East (East K), ON N6B2K2

Price on request

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

96%

About this property

For lease. This updated 3-bedroom, 2-bathroom unit is located in a well-maintained four-plex just outside the Soho district in downtown London. The unit offers a functional two-level layout with spacious updated open concept kitchen, living room, one bedroom and a 3-piece bathroom on the main floor, while the lower level features two additional bedrooms, a 3-piece bathroom, and a bonus space perfect for a small home office. The building features newer modern siding, contributing to both curb appeal and improved energy efficiency. Inside, you'll find contemporary laminate flooring, a bright living area, and shared pay-per-use laundry facilities. One dedicated parking spot is included. Enjoy the perks of downtown living with easy access to shops, restaurants, entertainment, and public transit. Bus stops on Wellington Road provide routes to both Fanshawe College and Western University, making this a convenient choice for students and professionals alike. Rent includes water; tenant pays personal hydro and heat (baseboard heating). Available for immediate occupancy. Application, credit check, proof of income, and references required. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy96%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$84K

Annual cash flow

$775

Cash-on-cash

0.17%

DSCR

1.01

Going-in cap

5.59%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

131,214

Households

58,653

Median income

$88,000

Median age

41.6

Daytime population

179,129

5-yr growth

7.5%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 261 CLARENCE STREET, London East (East K).

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.