224, 226 & 230 Richmond Street, London ON N6B 2H6

$ 1,855,855
224, 226 & 230 Richmond Street, London ON N6B 2H6,
Favorite
Your search results

Overview

  • Updated On:
  • May 1, 2024
  • 14 Bedrooms
  • 7 Bathrooms
  • 2,078 ft2

Description

MULTI-PROPERTY MULTI-UNIT INVESTOR’S PACKAGE – 7 UNITS/DOORS & PARCEL OF LAND w/ 9+ ADDITIONAL UNIT DEV POTENTIAL:

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”(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.

Address: 224, 226 & 230 Richmond Street, London ON N6B 2H6
City:
State/County:
Zip: N6B 2H6
Country: CA
Open In Google Maps
Property Id : 102281
Price: $ 1,855,855
Property Size: 2,078 ft2
Bedrooms: 14
Bathrooms: 7
Other Features
Dishwasher
Dryer
Has Garage
Has Heating System
Open Parking
Refrigerator
Separate Hydro Meters
Stove
Washer
$ 7,195.52
per month
  • Principal and Interest
  • Property Tax
  • HOA fee
$ 7,195.52

Mazher Latif

Real Estate Agent
Member of: Cityscape Real Estate Ltd., Brokerage

Contact Me

Schedule a showing?
Call +1 (519) 209-6934 WhatsApp

Similar Listings

Multi Residential Investment
Active

4394 Morrison Street, Niagara Falls ON L2E 2...

$ 679,900
Center Location in City of Niagara Falls. Near to the Niagara River, The City Hall, The Qu ...
Center Location in City of Niagara Falls. Near to the Niagara River, The City Hall, The Queen Street Business Cente ...
5 3 2,000 ft2details
27
Multi Residential Investment
Active

99 Mulcaster Street, Barrie ON L4M 3M7

$ 1,149,900
6 self-contained apartments in this charming income property on a bus route with a view fr ...
6 self-contained apartments in this charming income property on a bus route with a view from the porch and some of ...
3,800 ft2details
16
Multi Residential Investment
Active

18 King Street, Thorold ON L2V 3T7

$ 750,000
Welcome to your ideal investment opportunity! This stunning 5-bedroom, 4-bathroom property ...
Welcome to your ideal investment opportunity! This stunning 5-bedroom, 4-bathroom property is perfectly situated wi ...
5 4 1,376 ft2details
Multi Residential Investment
Active

106 Murray Street, Fort Erie ON L2A 2A8

$ 599,888
LEGAL TRIPLEX! Calling all Hackers and Investors. Would you like OVER 9% CAP RATE, would y ...
LEGAL TRIPLEX! Calling all Hackers and Investors. Would you like OVER 9% CAP RATE, would you like over $66k in gros ...
6 3 2,225 ft2details

Compare Listings

Mazher Latif