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320-324 Thompson Road
South I London South N5Z 2Z2

$6,250,000 /For Sale
Commercial

Main Photo: 320-324 Thompson Road in London South: South I Commercial for sale : MLS®# X13534198
Photo 1: 320-324 Thompson Road in London South: South I Commercial for sale : MLS®# X13534198
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Status:
Active
Prop. Type:
Commercial
MLS® Num:
X13534198
Bus Major:
Apts - Over 20 Units
Fantastic investment opportunity in London ON! This site contains 3 purpose built 12 plex's, each with 10 two bedroom units and two one bedroom units (one building has had two of the 2 bedroom units converted into one large unit by the former owner, would be easy to convert back into two units). It sits on over two acres, and that includes a vacant lot that is zoned R8-2 and is just over 0.6 acres (66 feet by 420 feet) that would be perfect to add some additional units to the property. Current rent roll is over $500,000 a year with loads of upside potential to increase to current market rent, currently 13 of the two bedroom units are under market rent. Each unit is separately metered for hydro, each building has its own laundry room, and many updates have been done over the years including new boilers (2023), many new windows (as needed), and most of the units have also been updated (as they become vacant they are renovated). This is a tremendous addition to any investor's portfolio so act today!
Property Type:
Commercial
Property Sub Type:
Investment
Freestanding:
Yes
Total Area:
10140 sq. ft. Square Feet
Total Area:
10,140 sq. ft.
Lot Depth:
790'
Lot Frontage:
174'1"
Lot Shape:
Irregular
Water supply:
Municipal
Zoning:
R8-2
Heating type:
Gas Hot Water
Garage:
None
HST Applicable To Sale Price:
Not Subject to HST
Type Taxes:
Annual
Taxes:
$75,495.17 / 2026
Assessment:
$- / -
Middlesex
London South
South I
Public Transit
Laundry machines
All appliances in "as is" condition, Shed, lawn mower and lawn equipment will stay in "as is" condition
All Tenants belongings
None
No
Utilities:
Yes
Green Property Information Statement:
No
Sewers:
Sanitary
Air Conditioning:
No
Seller Property Info Statement:
No
Financial Statements:
No
Expenses Actual/Estimated:
Actual
Heating Expenses:
$49,302
Insurance Expenses:
$12,074
Management Expenses:
$15,242
Tax Expenses:
$75,495
Year Expenses:
2025
Maintenace Expenses:
$28,800
Major Business Type:
Apts - Over 20 Units
Category:
Apartment
Franchise:
No
Chattels:
Yes
Date Listed:
Jul 07, 2026
Original Price:
Previous Price:
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Listed by ROYAL LEPAGE TRILAND REALTY
Data was last updated July 7, 2026 at 10:50 PM (UTC)
DARYL  KING
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Why Invest in Apartment Buildings for Sale?

Owning an apartment building for sale provides unique advantages:

  • Multiple rental units generate consistent monthly income
  • Economies of scale make property management more efficient
  • Opportunity to increase property value through renovations and upgrades
  • High demand for rental housing in urban and suburban markets

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When evaluating apartment buildings for sale, consider:

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  • Current rental income and future appreciation potential

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FAQs – Apartment Buildings for Sale

1. Are apartment buildings a good investment?
Yes, apartment buildings provide steady rental income, potential tax benefits, and property value appreciation over time.

2. What should I consider before buying an apartment building?
Evaluate location, tenant demand, building condition, rental income, and management costs.

3. Can first-time investors buy apartment buildings?
Yes, many financing options are available for new investors, including CMHC-backed loans and commercial mortgages.

4. How many units are considered an apartment building?
Typically, any property with five or more units is classified as an apartment building for investment purposes.

5. Where can I find apartment buildings for sale?
You can find listings across major cities and growing suburbs where rental demand remains strong.