220-230 Richmond Street London, Ontario N6B 2H6
$2,000,000
MULTI-PROPERTY MULTI-UNIT INVESTOR'S PACKAGE - 7 UNITS/DOORS & PARCEL OF LAND: This 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. These 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). 230 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. 226 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). Property being sold as is/where is (currently R3-1 zoning). Adjacent properties are zoned as AC4 commercial. Existing government incentives exist to build multi-residential properties which could aid in efforts to get land rezoned to allow for more units. This oppurtunity is particularly valuable to potential developers/ builders or those looking to eventually sell for the purpose of larger builds/developments. (id:49444)
Property Details
| MLS® Number | 40254289 |
| Property Type | Multi-family |
| Amenities Near By | Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping |
| Community Features | Community Centre, School Bus |
| Features | Park/reserve |
| Parking Space Total | 8 |
Building
| Bathroom Total | 7 |
| Bedrooms Total | 14 |
| Appliances | Window Coverings |
| Basement Development | Partially Finished |
| Basement Type | Partial (partially Finished) |
| Construction Style Attachment | Detached |
| Cooling Type | None |
| Exterior Finish | Brick, Vinyl Siding |
| Fire Protection | Smoke Detectors |
| Fixture | Ceiling Fans |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air, Hot Water Radiator Heat, Radiant Heat |
| Stories Total | 2 |
| Size Interior | 2078 |
| Utility Water | Municipal Water |
Parking
| Detached Garage |
Land
| Access Type | Road Access |
| Acreage | No |
| Land Amenities | Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 110 Ft |
| Size Frontage | 120 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | R3-1 |
https://www.realtor.ca/real-estate/24365655/220-230-richmond-street-london
Contact Us
Contact us for more information
Nathan Blanco
Salesperson
(647) 849-3180
380 Wellington Street, Tower B, 6th Floor
London, Ontario N6A 5B5
(866) 530-7737
(647) 849-3180
www.exprealty.ca/
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
July 13 2022 12:49:42
London and St. Thomas Association of REALTORS®
Exp Realty, Brokerage