Last Sold Price
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Overview
Key Facts
Type Multi Family
Levels Residential
Size -
Garage None
Taxes $13,410
Days Active 0
Lot Size
Approx. Age
MLS® Number X13773394
Property Address: 500-502 Colborne St, London, ON, N6B2T5
Average square foot calculated using Size range provided by listing agent.
Description
Five licensed units, $110, 712 in gross annual income, and a City of London rental license already in hand - 500/502 Colborne is the rare Woodfield multiplex already doing the work for you. This five-unit brick building sits on a 45' x 105' lot minutes from downtown, transit at the door. Scheduled rents total $9, 226/month across a 3 bed/2 bath, two 2 bed + dens, a 2 bed, and a 1 bed. Every unit is separately metered - tenants pay hydro, and both 502 units pay their own gas heat. Landlord costs run roughly $27, 962 (taxes $13, 678.72 verified with the City, insurance $7, 983, water/sewer $4, 200, gas $1, 350, common electricity $750), leaving approximately $82, 750 NOI - a cap rate near 6.4% at $1, 300, 000. The license matters as much as the income: a buyer inherits a legal, rentable five-plex on closing day, not a compliance project. Unit 2 at 502 is currently offered at $1, 700, letting a new owner pick their own tenant; the other four are tenanted and producing. Built 1905, over 5, 500 sq ft, 9+2 bedrooms, five baths, five kitchens, one unit recently updated. In-suite and shared laundry, storage lockers, owned water heaters, walk-out lower level, parking for six. R3-2. Flexible possession.Show Description
MLS® NumberX13773394
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageNone
Approx. Age
BasementWalk-Out, Partially Finished
DrivewayGarage Type:None
Garage Spaces
HeatGas, Forced Air
A/CNone
Extras
Price History
Appreciation
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Avg. Days Listed
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Today, For Sale for $1,300,000
For Sale · 0 days
$1,300,000
MLS® X13773394
4 hours ago
Not Sold Yet
September 2026, For Sale for $1,300,000
For Sale · 0 days
$1,300,000
MLS® X13773394
4 hours ago
Not Sold Yet
December 2025, Expired for $1,349,000
Expired · 117 days
$1,349,000
MLS® X12339936
9 months ago
Canceled on Dec 8, 2025
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