50 Irwin Street London North, Ontario N5G 1C8
$1,197,000
PRIME WESTERN UNIVERSITY LOCATION! 50 Irwin Street is a turnkey legal 5-unit residential multiplex featuring a high-density 11-bedroom layout directly adjacent to Western University. Offered at an attractive 7.0% Cap Rate, the property delivers excellent Gross Operating Income and a 1.60 Debt Coverage Ratio, supported by strong student rental demand and supplemental coin laundry income. Additional income potential exists through the detached garage. Fully tenanted and designed for efficient ownership, and includes separate hydro metering and five dedicated parking spots. This is a compelling opportunity to acquire a cash-flowing asset in London's premier academic rental corridor, offering immediate income, strong debt coverage, and long-term appreciation potential. (id:56248)
Property Details
| MLS® Number | X13769512 |
| Property Type | Multi-family |
| Community Name | North K |
| Equipment Type | Water Heater |
| Parking Space Total | 7 |
| Rental Equipment Type | Water Heater |
Building
| Bathroom Total | 5 |
| Bedrooms Above Ground | 8 |
| Bedrooms Below Ground | 3 |
| Bedrooms Total | 11 |
| Appliances | Dishwasher, Dryer, Stove, Washer, Refrigerator |
| Basement Type | Full |
| Cooling Type | None |
| Exterior Finish | Brick |
| Fireplace Present | Yes |
| Fireplace Total | 4 |
| Foundation Type | Concrete |
| Heating Fuel | Natural Gas |
| Stories Total | 2 |
| Size Interior | 3,000 - 3,500 Sqft |
| Type | Other |
| Utility Water | Municipal Water |
Parking
| Detached Garage | |
| Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 117 Ft |
| Size Frontage | 48 Ft ,9 In |
| Size Irregular | 48.8 X 117 Ft |
| Size Total Text | 48.8 X 117 Ft |
| Zoning Description | R2-3(2) |
https://www.realtor.ca/real-estate/30262842/50-irwin-street-london-north-north-k-north-k
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September 11 2026 01:54:59
The Oakville Milton & District Real Estate Board
Rock Star Real Estate Inc., Brokerage