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224, 226 & 230 Richmond Street, London, Ontario N6B 2H6
  • 224, 226 & 230 Richmond Street, London, Ontario  N6B 2H6

224, 226 & 230 Richmond Street, London, Ontario N6B 2H6

$1,855,855

Listing ID: 40254308
  • 0Bedrooms
  • 0Bathrooms
  • 8Parking Space(s)
Property Type
Building Type
Storeys
2
Title
Freehold
Land Size

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

Appliances Included
Zoning Description

Building

Bathrooms (Partial)
Bathrooms (Total)
Cooling
None
Exterior Finish
Brick, Vinyl siding
Foundation Type
Poured Concrete
Heating Fuel
Hot water radiator heat
Heating Type
Forced air
Style
Water
Municipal water
Utility Sewer
Municipal sewage system
Flooring
Fireplace
Basement Development
Partial (Partially finished)
Bedrooms Above Grade
Listed by EXP REALTY, BROKERAGE

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SUTTON PREFERRED

SUTTON PREFERRED

181 COMMISSIONERS ROAD WEST, London ON N6J1X9

Office: (519) 438-2222
Fax: (519) 438-1886

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  • Ty. I’m loving my new townhouse and it is honestly a great property, I’m very spoiled. Thanks again for all you have done for me and my family. Brandon Lam

    Brandon Lam

  • I’m getting more and more like the new home you found for me. It’s really nice and makes me remember my grandparents’ old houses, which were a lots alike. Thank you again for the all the helps of buying process. I just got furnace, air conditioner and water heater replaced. The contractor did great job.  The floor guys will replace dirty carpet on the first and third floor with laminate one. Hope all the investment are smart. You’re welcome anytime to drop by Ty.

    Have a wonderful weekend!

    Ping

    Ping

  • Thank you Ty for the wonderful dinner for two, Casey and I enjoyed our night out , what a nice place and the compimentary wine was awesome! You were right.

    We are now fully moved in and thanks for helping us out with our other house, how you got those tradespeople over so quickly was amazing.

    You kept the sale together!

    If you are free next Saturday, Casey  and I would love to have you and your lovely wife over for drinks and a meal with us.

    Casey said he would have the pool table all set up!

    Phylis

    Phylis

  • Just wanted to let you know that everything worked out with the couple I showed my place to.  They provided two references, both of which said they wished all their tenants were this good.  The guy is doing a fellowship at the hospital, so he has a fantastic job and they just come across as very respectful, quiet people.  I used the lease you provided, and they signed on Tuesday.  I asked them to bring along a rent deposit for last month’s rent, and they could pay first month’s rent on Sept. 1.  Instead, they gave me a bank draft for entire first and last month’s up front!!!   I got $1920/month, just like you thought Ty would be reasonable and which covers my costs each month, and I only had the place for one week before finding tenants!!

     

    Peter Derwent

    Peter Derwent

  • My  name is Kirubel Legasion. I will write a formal appreciation letter later on but I hereby would like to quickly let you know how much pleased I’m to work with Neera Chopra from Sutton Group Preferred Realty to sell my business that’s located at 460 Berkshire Drive, London, ON.

    Neera has the natural gift to communicate and make things happen efficiently even if they seem complicated. I thought selling my business would be difficult but thanks to Neera, she really made it happen in such a short period of time. It’s really an honor to get to know her and work with her!

    During one of our business conversations, Neera mentioned about you and I took the liberty to ask her if she could provide me your email address so that I can share my success story working with her!

    Thanks! Best Regards, Kirubel Legasion

    Kirubel Legasion

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224, 226 & 230 Richmond Street, London, Ontario N6B 2H6
$1,855,855
40254308
Subject Take a look at this property MLS Number# 40254308

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