REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 12,200,000
Est. payment /mo
New
380-390 Princess AVE Middlesex, ON N6B 2A9
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision East F
MLS Listing ID X12513726
Annual Tax Amount $126,651
Tax Year 2025
Property Sub-Type Investment
Property Description
Located at 380-390 Princess Avenue in London, Ontario, this purpose-built multifamily asset comprises 88 rental units across two well-maintained buildings, completed in 2010 and 2017. The properties feature modern construction, efficient layouts, and stable cash flow supported by additional income from parking and on-site laundry facilities.The asset participates in a Municipal Contribution Agreement (MCA) with the City of London, which provides forgivable loans totaling approximately $9.25 million. These zero-interest loans were advanced to support the delivery of affordable housing and are fully forgivable over time, provided the affordability requirements continue to be met. The remaining affordability periods extend to May 31, 2042 for 380 Princess Avenue and September 30, 2035 (phasing out from 2030) for 390 Princess Avenue. This municipal partnership ensures a stable tenant base and predictable revenue profile while aligning with growing demand for affordable rental housing in London. The buildings require minimal near-term capital expenditure and offer investors the opportunity to own a well-performing, government-supported housing asset with strong in-place income and long-term value appreciation potential once the affordability period concludes.
Location
Province ON
County Middlesex
Community East F
Area Middlesex
Interior
Cooling No
Exterior
Utilities Available Yes
Lot Frontage 198.0
Lot Depth 182.0
Others
ParcelsYN No
Listed by COLLIERS
