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$ 1,855,855
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Active
224, 226 & 230 RICHMOND STREET London, ON N6B2H6
14 Beds
7 Baths
3,978 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,978 sqft
Price per Sqft $466
Subdivision East K
MLS® Listing ID X8259362
Bedrooms 14
Originating Board London and St. Thomas Association of REALTORS®
Property Description
MULTI-PROPERTY MULTI-UNIT INVESTOR'S PACKAGE - 7 UNITS/DOORS & PARCEL OF LAND w/ 9+ ADDITIONAL UNIT DEV POTENTIAL:\r\n\r\nThis listing includes a three unit building and two legal duplex units, a single car garage along with a parcel of tied land (three seperate addresses; 224, 226 & 230 Richmond Street). At the mouth of downtown London on the historic Richmond Street just north of the Thames River and northeast of iconic Wortley Village; this offering has investment potential as a short or long term hold; with ample possibilities at future development. \r\n\r\nThese properties are currently fully tenanted. Present Net Operating Income (NOI) before lending costs of the seven combinded rented units is over $67,000 and at current market rents (conservative values) could be over $100,000 Net Operating Income (NOI) before lending costs (refer to Proforma in Documents). \r\n\r\n230 Richmond Street is a three unit building with three bedroom units on the main and upper levels and a two bedroom unit on the lower level. All units in this three unit building include in suite laundry and dishwashers. Main floor unit was freshly renovated in 2021. All present tenants pay their hydro expenses in this property. \r\n\r\n226 Richmond Street is a semi-detached duplex with a one bedroom upper unit and one bedroom lower unit. 224 Richmond Street is the other half the semi-detached duplex and has a two bedroom upper unit and a two bedroom lower unit. 224 Richmond Street also includes a parcel of tied land (formally three seperate addresses - 220 & 222 & 224 Richmond Street that have merged under single ownership).\r\n\r\nProperty being sold ""as is/where is""(R3-1 zoning). Adjacent properties are zoned as AC4 commercial. Planner has suggested that Nine - Fifteen Unit building can be constructed on vacant lot that is currently part of 224 Richmond property. This oppurtunity is particularly valuable to potential developers/ builders. (id:24570)
Location
Province ON
Interior
Heating Forced air
Exterior
Parking Features Yes
View Y/N No
Total Parking Spaces 7
Private Pool No
Building
Sewer Sanitary sewer
Listed by EXP REALTY