MULTI-PROPERTY MULTI-UNIT INVESTOR'S PACKAGE - 7 UNITS/DOORS & PARCEL OF LAND: 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 (currently R3-1 zoning). Adjacent properties are zoned as AC4 commercial. Existing government incentives exist to build multi-residential properties which could aid in efforts to get land rezoned to allow for more units. This oppurtunity is particularly valuable to potential developers/ builders or those looking to eventually sell for the purpose of larger builds/developments. (id:41195)
181 COMMISSIONERS ROAD WEST, London ON N6J1X9
Office: (519) 438-2222
Fax: (519) 438-1886
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Joyce is a very personable and professional Realtor.
Her experience with London Real Estate was an extremely valuable asset that helped us find a great home.
Joyce was accommodating when it came to setting up appointments and she made buying our first home as quick, easy, and understandable as possible!
Tyler Lajevardi and Kora Lajoie
Thank you so much for your professionalism and attention to
detail on the recent sale of my home. I’m sure that that and
your sound advice in preparing the house and property for sale
were instrumental in its timely sale for a fair value. As we were
told, it was our goal to sell our house and it was your goal to
help us do that to the best of your ability. You went above and
beyond the call of duty.
You’ll have our future business and we’ll be confident in
referring you to others in the future.
“My wife and I recommend Joyce and her team without reservations.
Joyce worked closely with us over several months, helping us negotiate the purchase of anew home (presently being built) and the sale of our current home (currently being packed!).
After we decided to work with a builder on our new home, Joyce accompanied us to meetings with the builder and kept very detailed notes that assisted with drawing up the final contract.
After our offer was accepted and we were preparing to put our current home on the market (as well as pack for a family vacation), the builder contacted Joyce to inform her of a problem with building the home we wanted on the lot we selected-it was not going to work. We were faced with the prospect of starting our new home search from scratch, putting the brakes on listing our current home, and a rough start to our vacation. Joyce worked with the builders and a few hours later called back to present a potential solution that we were very happy with! We got the home we wanted in the development we wanted, we got to list our house, and we got to enjoy our vacation.
As an added bonus, Joyce sold our house while we were on vacation.
The number of ways Joyce helped us with the sale of our home are too numerous to discuss in detail, but I will list a few.
First, Joyce showed us a number of homes in our area that had recently sold, as well as homes that were listed but had yet to sell, to assist us with establishing the price we felt reflected the value of our home.
Second, Joyce arranged for a complimentary pre-sale home inspection, allowing ample opportunity for us to fix any noted deficiencies.
Third, a Stager, that is affiliated with Joyce’s team visited our home and sent us a report with specific suggestions for how to organize and decorate our home to optimize the presentation of the property.
Fourth, Joyce contacted a cleaning company for us and provided them access to our home prior to it being available for showing to prospective buyers while we were away on family vacation.
Fifth, Joyce kept in close contact with us via email and phone while we were away on vacation, providing feedback on the open house and other showings (the house was shown about 80 times in a week). She also checked our mail for us while we were away.
Sixth, after the sale of our home (after being on the market for about 2 weeks in total) Joyce and her team have provided a great deal of useful information to assist with the closing and our move.
Overall, we are very happy with the professional service provided by Joyce and her team.”
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