Turnkey Investment Opportunity in Old East Village! This charming yellow brick duplex at 631 Elias Street is fully leased and cash-flowing from day one, offering a rare chance to add a hassle-free, income-producing property to your portfolio. Both units are occupied by reliable tenants, delivering $2,633/month in combined gross rent with tenants responsible for their own hydro and gas.The upper unit is a bright, spacious 2-bedroom with a unique layout: one bedroom on the main floor and a second bedroom upstairs. It's now leased at $1,550/month plus hydro and gas and features its own private laundry, electric baseboard heating, and the added comfort and charm of a gas fireplace.The lower unit is home to a reliable, long-term tenant currently paying $1,083/month, with its own separate laundry and forced-air gas heating.Both units are separately metered for hydro and gas, with tenants covering their own utilities. The owner pays water only, keeping expenses low and predictable.Recent updates take the guesswork out of ownership. The roof was redone in three phases between 2018 and 2021, the bathtub was refinished in 2023, a new washer was installed in 2023, a new gas fireplace insert was added in 2025, and the deck was rebuilt in 2026.With two stable tenancies in place, separately metered utilities, private laundry in each unit, and a strong list of recent updates, 631 Elias Street is ready for an investor to step in and start collecting rent immediately. No vacancy, no renovation, no delay. Ideally located close to downtown, public transit, schools, parks, and the shops, cafés, breweries, and restaurants that make Old East Village one of London's most exciting and evolving neighbourhoods. (id:4069)
Address
631 ELIAS STREET
List Price
$464,000
Property Type
Multi-family
Type of Dwelling
Duplex
Transaction Type
Sale
Area
Ontario
Sub-Area
London East (east G)
Bedrooms
3
Bathrooms
2
Floor Area
1500 - 2000 Sq. Ft.
Lot Size
27.5 x 150 FT Sq. Ft.
Lot Depth
150 ft
Frontage Length
27 ft ,6 in
MLS® Number
X13614444
Listing Brokerage
THE REALTY FIRM INC.
Basement Area
N/A (Unfinished)
Postal Code
N5W3N5
Zoning
R3-2
Parking Places (Total)
5
Site Influences
Park, Public Transit, Schools
Features
In-Law Suite
Community Features
School Bus
Appliances
Water Heater, Dryer, Stove, Washer, Refrigerator
Amenities
Fireplace(s), Separate Heating Controls, Separate Electricity Meters
Heat Source
Electric, Natural gas
Heat Type
Baseboard heaters, Forced air
Cooling Features
Window air conditioner
Fireplace
Yes
Number of Fireplaces
1
Foundation Details
Concrete
Other Structures
Deck, Porch
Number Of Floors In Building
1.5
Water Source
Municipal water
Sewer
Sanitary sewer
