About this property

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.

Features & finishes

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Air Conditioning

Basement

Property details

MLS® Number	X12513726
Status	Active
Listing Type	For Sale
Property Type	Commercial
Interior Size	1 sq ft
Lot Size	1 sq ft
Beds / Baths	0 bed · 0 bath
City	London East
Postal Code	N6B 2A9
Province	ON
Listed Date	March 10, 2026
Days on Market	149
Price per Sq Ft	$11,200,000
Brokerage	COLLIERS