









1/111408 ERNEST AVENUE, London South (South X), ON N6E3B2
$3.9M total
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Asset Class
Multifamily
Size
—
Building class
C
Zoning
RA8 — Medium Rise
$ / SF
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Occupancy
92%
An exceptional 1.029-acre infill development site in London's White Oaks neighbourhood, recently re-zoned Residential R8-4, and approved for a wide range of medium-density residential uses including stacked townhouses, low-rise apartments, and converted dwellings.The property features an existing vacant two-storey commercial structure, approved for conversion into an 18-unit residential apartment building (44 units per hectare) with a flexible mix of 1-bedroom, 1+den, and 2-bedroom layouts.Approx. 12,950 ft2 of existing building space and 64 on-site parking stalls-with access via a shared private laneway-support a streamlined, low-cost redevelopment path. No Site Plan Control is required for the current approved conversion, reducing timeline and permitting barriers.Strategically located near transit, shopping, parks, schools, and employment hubs, this site offers strong tenant appeal and long-term upside in a corridor targeted for growth. Positioned between an established residential area and a neighbourhood commercial node, the site delivers natural transition, walkability, and policy-aligned density.Property is currently vacant and uninsured. Data room access with a signed CA. (id:66811)
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Monthly debt service
$18K
Projected NOI
$135K
Annual cash flow
$-81K
Cash-on-cash
-6.92%
DSCR
0.63
Going-in cap
3.46%
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.
Trade area within 3 miles of the property.
Population
78,658
Households
28,104
Median income
$132,000
Median age
35.4
Daytime population
113,749
5-yr growth
7.1%
Modelled estimates for illustration until a licensed census data provider is connected.
Confidential diligence documents for 1408 ERNEST AVENUE, London South (South X).
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.