1071.5 Florence Street

About this home

Exceptional Investment Opportunity - Legal Triplex with Strong Cash Flow & Future Upside! Own a fully legal two-storey triplex on a rare 37.09 ft x 168.63 ft lot in one of London's rapidly growing neighbourhoods. Certified by the City of London, this income-producing property offers immediate cash flow, low operating costs, and excellent long-term appreciation potential. Currently generating $3,289/month from the main floor ($1,689) and upper unit ($1,600 including parking), with only the basement unit remaining to be leased at $1,350/month, bringing the projected gross rental income to approximately $4,639/month ($55,668 annually). Property taxes are only $2,716/year, making this an attractive opportunity for investors. The impressive 168-foot-deep lot provides added privacy and future development potential, subject to municipal approvals. Ideally located with a bus stop at the doorstep and within walking distance to the Hard Rock Hotel, casino, restaurants, shopping, and entertainment district, this high-demand location continues to attract quality tenants. Major updates include a waterproofing membrane around the foundation (2021), interior drainage system, exterior painting, soundproofing between the main and upper floors, and a renovated main-floor kitchen (2022).Additional features include separate entrances, separate hydro meters, four parking spaces, coin-operated laundry for extra income, and a private tree-lined backyard with a paved patio and fire pit. Whether expanding your portfolio or purchasing your first investment property, this well-maintained legal triplex offers strong income, excellent upside, valuable updates, and outstanding long-term investment potential.

Details

Type

Triplex

Style

2-Storey

Age

100+ years

Size

1100-1500 sq ft

Lot

37.09 × 168.63 ft

Basement

Apartment, Separate Entrance, Full, Finished

Garage

None

Kitchens

3

Property tax

$2,716 (2025)

Neighbourhood

East M

Municipality

London East

Interior

Bedrooms

4 above ground

Bathrooms

1 × 4-piece (main), 1 × 4-piece (second), 1 × 4-piece (basement)

Rooms

10 above ground

Family room or den

Yes

Fireplace

No

Features

Carpet Free

Heating, cooling and services

Heating

Baseboard, Electric

Water and sewer

Sewer

Building and exterior

Style

2-Storey

Exterior

Brick, Vinyl Siding

Roof

Asphalt Shingle

Foundation

Block

Age

100+

Faces

North

Parking

Total parking

4

Driveway and parking

Reserved/Assigned

Lot

Size

37.09 × 168.63 ft

Acreage

< .50

More

Possession

Flexible

Nearby

Hospital, Library, Park, School, School Bus Route

Cross street

EGERTON ST.

Rooms