Sothebys International Realty Canada

Multiplex for Sale in London

224, 226 & 230 Richmond Street, London, ON

  • CA$1,855,855
  • 14 BEDS
  • 7 BATHS
  • 3,978 sq.ft. Home
  • 224, 226 & 230 Richmond Street, London, ON
  • 14 BEDS
  • 7 BATHS
  • 3,978 sq.ft. Home
  • CA$1,855,855

Multiplex for Sale in London

224, 226 & 230 Richmond Street, London, ON

  • CA$1,855,855
  • 14 BEDS
  • 7 BATHS
  • 3,978 sq.ft. Home
  • 224, 226 & 230 Richmond Street, London, ON
  • 14 BEDS
  • 7 BATHS
  • 3,978 sq.ft. Home
  • CA$1,855,855

Key Facts

  • MLS® #: 40254289
  • Property ID: SIRC1137671
  • Property Type: Residential, Multiplex
  • Living Space: 3,978 sq.ft.
  • Lot Size: 13,145 sq.ft.
  • Bedrooms: 14
  • Bathrooms: 7
  • Parking Spaces: 8
  • Listed By:
  • EXP REALTY OF CANADA INC.

Property 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.

Listing Agents

EXP REALTY OF CANADA INC.

Request More Information

*Showing requires confirmation from agent.

Request More Information

*Showing requires confirmation from agent.

Location

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

Around this property

Information about the area within a 5-minute walk of this property.

Request Neighbourhood Information

Learn more about the neighbourhood and amenities around this home

Request Now

Payment Calculator

mo.* estimated monthly payment based on:
  • $
  • %$
  • %
  • Principal and Interest 0
  • Property Taxes 0
  • Strata / Condo Fees 0
* This payment calculator’s purpose is to provide a rough estimate for planning and educational purposes only. It should not be used as your sole source of information for financial planning purposes. This tool does not offer a loan nor does it solicit your information, it is also not financial or legal advice. Please contact a qualified professional for your financial advice. No responsibility or liability whatsoever can be accepted by Sotheby’s International Realty Canada or Sotheby’s International Realty Affiliates for any loss or damage resultant from any use of, reliance on or reference to the contents of this payment calculator.

Apply for Mortgage Pre-Approval in 10 Minutes

Get Qualified in Minutes - Apply for your mortgage in minutes through our online application. Powered by Pinch. The process is simple, fast and secure.

Apply Now
The IDX information is exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable, but not guaranteed. Copyright 2022 Information Technology Systems Ontario, Inc.
Home/Ontario/London/MLS® 40254289