$399,000 - 173 Adelaide Street, London East
Multi-Family for Sale in London East
52 days on marketNeighbourhood: East K
- MLS Number
- X13133066
- Property Type
- Multi-Family
- Status
- active
- Days on Site
- 52
- Bedrooms
- 6
- Bathrooms
- 2
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- London East
- Listing Brokerage
- SUTTON GROUP PREFERRED REALTY INC.
Experience the perfect combination of space, versatility, and income potential in this substantial 6-bedroom, 2-bathroom home, currently arranged as 2 separate units. Whether you are an investor, accommodating extended family, or searching for a property with built-in revenue, this home offers exceptional flexibility. The main floor unit features 4 spacious bedrooms, including 2 with walk-in closets, a huge primary bedroom, soaring 9-foot ceilings, and beautiful original mouldings that add timeless character. A refreshed kitchen and bathroom, along with new flooring and fresh paint throughout, make the main level both stylish and move-in ready. Upstairs, the second-floor unit includes 2 additional bedrooms, a comfortable den, second kitchen, and a full bathroom. The current arrangement provides excellent income from dependable roommates, while the owner enjoys comfortable living on the main floor. All roommates are in place under month-to-month roommate agreements. Step outside to a new fully fenced backyard, offering privacy as well as a safe and secure area for children or pets. The spacious deck creates the perfect setting for outdoor dining, summer barbecues, and entertaining guests. Additional features include a new Lennox furnace and central air system (2022), separate hydro and water meters, and multiple entrances. Combined with the flexible layout, these features create strong potential for a future duplex or triplex conversion, adding even more value and income opportunity. Whether you are looking for a property that can help offset your living expenses or a smart addition to your investment portfolio, this home offers outstanding potential.
Estimate your monthly payments for this property
Estimated Payment
$2,047.08/mo
Includes CMHC insurance ($11,132)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover East K
East K is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in East K
- •Convenient location in London East
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
East K offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
173 Adelaide Street, London East
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $266/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 52 days on site, this property has exceeded the typical selling timeline for London East. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Excellent Flexibility
With 6 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in London East.
About East K
I know East K well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.