344.5 Richmond Street London, Ontario N6A 3C3
$899,900
Welcome to 344.5 Richmond Street, an exceptional mixed-use investment opportunity offering a compelling 6% + cap rate at the asking price.This property features two newly renovated one-bedroom residential units, currently vacant, allowing the buyer to select tenants at market rates and a recently tenanted commercial unit on a 5-year lease. The property has undergone significant upgrades, including a brand-new roof (2024), as well as plumbing and electrical enhancements. Each unit is equipped with separate hydro meters and baseboard electric heating, leaving the landlord responsible only for water expenses. BONUS: Vendor willing to provide a first-position VTB! Located in a prime downtown area, this property offers exceptional returns and endless potential. Don't miss out on this outstanding investment opportunity! (id:55499)
Property Details
| MLS® Number | X12045257 |
| Property Type | Multi-family |
| Community Name | East K |
Building
| Heating Type | Baseboard Heaters |
| Size Interior | 3560 Sqft |
| Type | Multi-family |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 97 Ft |
| Size Frontage | 20 Ft |
| Size Irregular | 20 X 97 Ft |
| Size Total Text | 20 X 97 Ft |
| Zoning Description | Da1 |
https://www.realtor.ca/real-estate/28082438/3445-richmond-street-london-east-k
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March 27 2025 04:46:04
Toronto Real Estate Board
Exp Realty