2 - 578 FIRST STREET, London East (East H)2 - 578 FIRST STREET, London East (East H) — photo 22 - 578 FIRST STREET, London East (East H) — photo 32 - 578 FIRST STREET, London East (East H) — photo 42 - 578 FIRST STREET, London East (East H) — photo 52 - 578 FIRST STREET, London East (East H) — photo 62 - 578 FIRST STREET, London East (East H) — photo 72 - 578 FIRST STREET, London East (East H) — photo 82 - 578 FIRST STREET, London East (East H) — photo 92 - 578 FIRST STREET, London East (East H) — photo 102 - 578 FIRST STREET, London East (East H) — photo 112 - 578 FIRST STREET, London East (East H) — photo 122 - 578 FIRST STREET, London East (East H) — photo 132 - 578 FIRST STREET, London East (East H) — photo 142 - 578 FIRST STREET, London East (East H) — photo 152 - 578 FIRST STREET, London East (East H) — photo 16
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For Lease · Multifamily

2 - 578 FIRST STREET, London East (East H)

2 - 578 FIRST STREET, London East (East H), ON N5V1X8

Price on request

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA9 — High Rise

$ / SF

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Occupancy

94%

About this property

Welcome to this beautifully designed newly built garden home located at 578 First Street in London. Offering modern finishes, thoughtful design, and low-maintenance living, this private backyard suite is ideal for professionals, couples, downsizers, or anyone seeking a comfortable and stylish place to call home. The bright and inviting open-concept layout features a spacious living area flowing seamlessly into a contemporary kitchen complete with elegant quartz countertops, stainless steel appliances, and ample cabinetry. Luxury vinyl plank flooring throughout provides both durability and easy maintenance. The home offers a generous primary bedroom along with a versatile second room filled with natural light, perfect for a home office or guest room to suit your needs. The modern bathroom is finished with quality fixtures, while the convenient ensuite laundry room adds to the home's functionality and comfort. Enjoy the privacy and charm of garden home living while being conveniently located close to shopping, public transit, schools, parks, restaurants, and all amenities that East London has to offer. Landlord is offering free internet service and a $1,000 gift voucher to qualified tenants. Don't miss this exceptional rental opportunity! A second nearly identical suite is also available for lease on the property. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy94%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$81K

Annual cash flow

$-2K

Cash-on-cash

-0.40%

DSCR

0.98

Going-in cap

5.42%

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

134,631

Households

63,683

Median income

$105,000

Median age

44.3

Daytime population

191,126

5-yr growth

4.4%

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

Secure deal room

Confidential diligence documents for 2 - 578 FIRST STREET, London East (East H).

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.