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196-198 Clarence Street in London East: East K Commercial for sale : MLS®# X13784218

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196-198 Clarence Street
East K London East N6B 2J7

$739,999 /For Sale
Commercial

Main Photo: 196-198 Clarence Street in London East: East K Commercial for sale : MLS®# X13784218
Status:
Active
Prop. Type:
Commercial
MLS® Num:
X13784218
Bus Major:
Apts - 6 To 12 Units
196-198 Clarence Street consists of two separate lots and is fully approved and ready to build, with plans, permits and due diligence completed, making this a true shovel-ready 8-unit redevelopment opportunity. City of London housing incentives may provide a forgivable loan of up to $45,000 per qualifying unit, representing potential funding of up to $360,000, subject to program availability, eligibility requirements and municipal approval. Based on projected rents of $1,250 per unit, plus anticipated parking and locker income, the completed project could generate approximately $134,400 in annual gross revenue and projected NOI of approximately $108,920. At stabilization, this supports an estimated value of approximately $2,178,400 at a 5% capitalization rate or $1,815,333 at a 6% capitalization rate. Once completed and stabilized, the property may also qualify for CMHC MLI Select financing, subject to applicable program and lender requirements. The property is conveniently located near Downtown London, transit, employment, shopping and amenities. Complete plans and due diligence package are available upon request. All projections, incentives and financing opportunities are estimates only and should be independently verified by the purchaser.
Property Type:
Commercial
Property Sub Type:
Investment
Freestanding:
Yes
Total Area:
5924 sq. ft. Acres
Total Area:
5,924.16 sq. ft.
Lot Depth:
110'
Lot Frontage:
57'
Water supply:
Municipal
Zoning:
R3-1
Heating type:
None
Garage:
None
HST Applicable To Sale Price:
Included In
Type Taxes:
Annual
Taxes:
$2,245.24 / 2026
Assessment:
$- / -
Middlesex
London East
East K
Utilities:
Yes
Air Conditioning:
No
Seller Property Info Statement:
No
Major Business Type:
Apts - 6 To 12 Units
Category:
Apartment
Date Listed:
Sep 15, 2026
Original Price:
Previous Price:
  • Photo 1: 196-198 Clarence Street in London East: East K Commercial for sale : MLS®# X13784218
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Listed by EXP REALTY
Data was last updated September 15, 2026 at 05:15 PM (UTC)
DARYL KING
This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.
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