46 STANLEY STREET, London South (South F), Ontario, N6C1B1
MLS: X12963106 | Fourplex
$599,900
Property Description
Positioned on the edge of downtown, this is a prime opportunity to acquire a solid income-producing asset. With strong rental demand and proximity to the core, this is the type of property that supports both stable occupancy and long-term growth. The building consists of four 1-bedroom units, three of which have been recently renovated - allowing you to step into improved rents and reduced capital expenditure from day one. Two units are currently vacant, offering immediate flexibility: place your own tenants at market rents or take the opportunity to further upgrade and push value. Current gross monthly income is approximately $5,052, comprised of in-place rents and projected rents for the vacant units, with a clear path to ~$5,680 based on market rents with value added. At that level, the property is projected to operate around a 7.0% cap rate, with upside closer to the 8.2% range as rents are stabilized and value is added. Operating expenses are well-defined at roughly $1,923/month, resulting in a current NOI of ~$3,128/month and a projected NOI of ~$3,750+/month once rents are optimized. Depending on financing, this deal shows estimated monthly cash flow in the range of ~$500-$750 with current/projected rents, depending on execution. A major differentiator here is the ample on-site parking-something that's increasingly difficult to find this close to downtown and a key factor in tenant retention. Whether you're looking for a performing asset with immediate income or a property where you can still create value through leasing and light improvements, 46 Stanley offers a clean, straightforward path to both. (id:64974)
Quick Facts
- Property Type: Fourplex
- Bedrooms: 4 (4 above)
- Bathrooms: 4
- Attached: Yes
- Parking: 4.0 spaces (No Garage)
- Frontage: 33 ft (10.1 m)
Costs
- Annual Taxes: $3,989.84 (2025)
Listing Provided by: PRIME REAL ESTATE BROKERAGE
Board: London and St. Thomas Association of REALTORS®
Data provided via CREA DDF®.
Detailed Features
Interior & Systems
- Heating: Forced air, Natural gas
- Cooling: None
- Basement: Unfinished, N/A
- Appliances: Washer, Refrigerator, Stove, Dryer
Exterior & Construction
- Exterior: Brick, Vinyl siding
- Foundation: Brick
- Water: Municipal water
Lot & Land
- Frontage: 33 ft (10.1 m)
Community & Neighbourhood
- Neighbourhood: South F
Listing Information
Listing History
MLS listing activity for 46 STANLEY STREET, London South (South F), Ontario, N6C1B1 — dates reflect when changes were recorded in the DDF
🚗 Travel times
Neighborhood Walkability
Mortgage & Cost Calculators
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46 STANLEY STREET, London South (South F), Ontario, N6C1B1