220-230 Richmond Street, London, Ontario N6B 2H6
$2,000,000
- 0Bedrooms
- 0Bathrooms
- 8Parking Space(s)
2
Freehold
Description
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)
Details
Park/reserve
Building
None
Brick, Vinyl siding
Poured Concrete
Hot water radiator heat
Forced air
Municipal water
Municipal sewage system
Partial (Partially finished)
Presented By
Presented By:
SUTTON PREFERRED
181 COMMISSIONERS ROAD WEST, London ON N6J1X9
Office: (519) 438-2222
Fax: (519) 438-1886
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March 03 2023 10:33:57
London and St. Thomas Association of REALTORS®
Exp Realty, Brokerage
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After a sudden death in the family my sister and I contacted Joyce to list a property in London.
Very promptly, Joyce and her team went into action. Joyce’s advice and referrals on carpet replacement, house cleaning and an electrician were valuable.
Joyce stayed in close contact during the process of getting the house ready to list and explained in detail her marketing plan and proposal.
The result was the house sold for over asking in 7 days.I would not hesitate to recommend Joyce and her team to anyone!
Roxanne Meloche
London OntarioRoxanne Meloche
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Professionalism brought us to Joyce in the first place and we are pleased with the results.
Joyce was attentive to our needs and we found the marketing of our property to be extensive and thorough.
Joyce also helped us find our dream home!
We would not hesitate to recommend her and her team for anyone’s future real estate needs, whether buying or selling.
Sharron Miller and Bill Hopkins
Sharron Miller and Bill Hopkins
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“We listed our home with Terry and Sheri Beckett ..Teambeckett . So very impressed with the market research done and the time taken to go over everything with us . From the first time meeting with us until they sold our property , they were very organized and very responsive to us. We had the utmost confidence in their abilities . The attention to our best interests were always first and foremost . We will always appreciate the care and attention Teambeckett gave to us !
Thank you again !! Donna and Shawn
Donna and Shawn
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“Hi Rob, I just wanted to tell you how very thrilled I am with my house deal. The money is more than I could have possibly imagined. Your representation for me as a client was always in my best interest. Not once did I feel pressured. I handed my home over to you with no qualms whatsoever. I was able to sit back and just let you deal with all that was involved. Due to your kindness, patience and honesty, I am absolutely content with this entire endeavour. Very sincerely, Sally
Sally
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“Selling your home can be such a stressful experience…especially during a pandemic! But Joyce walked us through every step of the process.
Her sales plan was much more extensive than what other agents offered.
Her advice was always timely and upfront. I will be recommending Joyce Byrne to anyone I know looking to sell their home…she was terrific.
We felt that we were in very good hands.”
Kim and Chris Southern
Kim and Chris