196-198 CLARENCE STREET · Multi-family

196-198 CLARENCE STREET is a 3-unit multi-family in London, ON, asking $739,999 — $246,666 per door.

That lands inside the London band of $210k - $360k per door, so the ask is not the thing that decides this deal — the rent roll is. London cap rates screen 4.5% - 5.8% and average rent runs about $1,900 a door.

At 3 units this finances as residential, not commercial — MLI Select starts at five units. The qualifying rate still applies: federally regulated lenders test a 1–4 unit rental at the greater of your contract rate plus two points or 5.25%.

London is useful for student and small-multifamily strategies, but management and licensing drive outcomes. Investor demand reads medium, vacancy balanced.