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:7434)
Property Attributes
ID#X12045257
Type Multi-Family
City London East
Neighbourhood East K
Postal Code N6A 3C3
Style
Price$ 874,999
Bedrooms 0
Bathrooms 0
Half Bathrooms 0
Sqr Footage3560
Lot Size0.045 Acres
Data Source:
Canadian Real Estate Association (CREA)
Building Fireplace Present
False
Building Heating Type
Baseboard heaters