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

14 Bedroom 7 Bathroom 3978 sqft
Forced Air


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:46638)

Property Details

MLS® Number X8259362
Property Type Business
Community Name East K
Amenities Near By Recreation, Public Transit
Parking Space Total 7


Bathroom Total 7
Bedrooms Total 14
Appliances Dishwasher, Dryer, Refrigerator, Stove, Two Washers, Two Stoves
Heating Type Forced Air
Size Interior 3978 Sqft
Utility Water Municipal Water


Detached Garage


Acreage No
Land Amenities Recreation, Public Transit
Sewer Sanitary Sewer
Size Depth 110 Ft
Size Frontage 119 Ft
Size Irregular Unit=119.5 X 110 Ft ; Plot Of Land Portion Included With 224 Richmond St
Size Total Text Unit=119.5 X 110 Ft ; Plot Of Land Portion Included With 224 Richmond St
Zoning Description R3-1



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