224, 226 & 230 Richmond Street, London, Ontario N6B 2H6
$1,855,855
- 0Bedrooms
- 0Bathrooms
- 8Parking Space(s)
2
Freehold
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. (id:41195)
Details
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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February 14 2024 05:24:42
London and St. Thomas Association of REALTORS®
Exp Realty, Brokerage
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Working with Sheri Beckett made dealing with my father’s estate sale a breeze. Sheri was able to assess the home on very short notice and then stayed abreast of the market in order to be prepared to sell as soon as possible when probate was granted. Sheri is extremely knowledgeable – she comes well-prepared with market insights to assist with your decision-making. She is flexible with her schedule, always on time and has excellent communication skills which enabled me to better understand the various agreements throughout the process. Thank you Sheri and Team Beckett for a smooth sale after five days on the market. – Alexandra Auestad
Alexandra Auestad
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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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It is with the utmost pleasure that I write this recommendation for Joyce Byrne and her Real Estate Team.
Joyce Byrne’s Real Estate Team is innovative, experienced, efficient, courteous and highly professional. From stager to web, this team operates in a seamless fashion to ensure that a “SOLD” sign is the end result for a satisfied client.
Joyce’s communication skills are second to none and she keeps in touch on a frequent basis. She sold my house in a short time, in spite of a poor economy at the time.
I know I will be telling my friends to call Joyce Byrne when they wish to sell their houses.
Evelyn McWha
London, OntarioEvelyn McWha
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Hello Ty
“Just wanted to take a moment to say thanks for your assistance in selling our property. As you know we had looked at a couple different options for selling the property, thankfully after speaking with you about our options we decided you were the best choice for us. And are we glad we did! Right from the start we were impressed with your approach, the research you did on ours and similar properties gave us an accurate understanding of what the market would allow for our property, and your thoroughness’ certainly took away any uneasiness we may have had about selling and moving.
We really appreciated how you kept us informed about potential buyers, and when the offer came rather quickly, you offered your professional opinion and then respected our decisions.
Once the sale was complete, you took the time to educate us to the rest of the process, and the other professionals., ie: lawyers you recommended had that same professional and thorough approach that you have. We certainly appreciated how you went out of your way to ensure the move to our next place went together as planned. As we look for other real estate opportunities, your phone number is the first we will dial. ”Craig and Bonnie Hardy Covenant Construction
Craig and Bonnie Hardy Covenant Construction