For Lease · Multifamily

1 - 490 CENTRAL AVENUE, London East (East F)

1 - 490 CENTRAL AVENUE, London East (East F), ON N6B2G1

Price on request

—

Asset Class

Multifamily

Size

—

Building class

C

Zoning

RA9 — High Rise

$ / SF

—

Occupancy

87%

About this property

FOR LEASE | 1-490 Central Avenue, London, Ontario **$1,195/month + Heat & Electricity | High Speed Internet & Water Included | 1 Bedroom | 1 Bathroom | 1 Parking Space Included** Conveniently located in Central London, this main floor, 1 bedroom apartment offers comfortable living with the added privacy of its own separate entrance at the front main level of a fourplex. The unit features a functional layout, a 4pc bathroom, and a kitchen equipped with a refrigerator, stove, dishwasher, and private in-suite washer and dryer. Enjoy year round comfort with an electric split system providing both heating and air conditioning, in addition to the building's forced-air natural gas heating system. **Location is a standout feature!** Situated just minutes from downtown London, with convenient access to public transit, shopping, restaurants, parks, and everyday amenities. Ideal for those seeking an affordable, centrally located home with easy access to the city.**Monthly Rent: $1,195 + Heat & Electricity. One parking space included.** (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy87%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$72K

Annual cash flow

$-11K

Cash-on-cash

-2.40%

DSCR

0.87

Going-in cap

4.82%

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

140,479

Households

51,969

Median income

$118,500

Median age

35.7

Daytime population

198,225

5-yr growth

7.2%

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

Secure deal room

Confidential diligence documents for 1 - 490 CENTRAL AVENUE, London East (East F).

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.