424 Waterloo Street, London
$1,700,000
MLS® # 40418820
COLLIERS SOUTHWESTERN ONTARIO, BROKERAGE
224, 226 & 230 Richmond Street, London
$1,855,855
14 Beds
0 Baths
0 Sqft
0 Acres
1 Garages
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.
Essential Information
MLS® #40254308
Price$1,855,855
Bedrooms14
Bathrooms0.00
TypeCommercial Sale
Sub-TypeBuilding and Land
StatusActive
Community Information
Address224, 226 & 230 Richmond Street
AreaEast
SubdivisionEast K
CityLondon
CountyMiddlesex
ProvinceON
Postal CodeN6B 2H6
Amenities
Parking Spaces8
ParkingDetached Garage
# of Garages1
Interior
CoolingNone
Has BasementYes
# of Stories2
Interior Features
Ceiling Fan(s), Separate Hydro Meters
Appliances
Water Heater, Water Heater Owned, Dishwasher, Dryer, Refrigerator, Stove, Washer
Heating
Forced Air, Natural Gas, Radiant, Water Radiators
Basement
Separate Entrance, Walk-Out Access, Walk-Up Access, Partial, Partially Finished
Exterior
ConstructionVinyl Siding
FoundationPoured Concrete, Stone
Lot Description
Urban, Rectangular, Arts Centre, Business Centre, City Lot, Hospital, Library, Open Spaces, Park, Place of Worship, Playground Nearby, Public Parking, Public Transit, Rec./Community Centre, Regional Mall, School Bus Route, Schools, Shopping Nearby, Trails, Other
Additional Information
Days on Market713
Listing Details
OfficeEXP REALTY, BROKERAGE
Property History
Price Reduced from $1,855,856 to $1,855,855Price Reduced from $1,888,889 to $1,855,856
Price Reduced from $2,000,000 to $1,888,889
LISTING MAP
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