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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Once our home was sold in Brampton my agent recommended the services of Joyce Byrne to help find us a new home in London.
The emotions involved with finding a new home in an entirely different city, 2 hours away in a very short time frame seemed impossible but Joyce Byrne’s Team made it as smooth and enjoyable as possible!
They calmed my nerves and at the end of it all, it felt like I had made new friends.
I will be staying in touch with Joyce Byrne’s Team to further help us with the transition of moving to London, and I know they will help with no hesitation or make me feel like I’m bothering them.
I would highly recommend Joyce Bryne’s Team at Sutton Group Preferred.
Thank you for helping me make London the new home for me and my family!
Debbie Lewis
Brampton OntarioDebbie Lewis
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Thanks, Sheri and Team Beckett
On a scale, this real estate is 10/10. They are amazing. We bought in Woodstock and it went so smooth with Joy. She made us feel relaxed and was very observant for everything in the house. Sheri is also so caring and kept us informed with everything. Since moving from the Niagara area, they have helped so much with recommending people that we have needed to get the house in order. I will always recommend them to other potential clients. Great job Team Beckett!!!
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When we wanted to move to London from Brampton as part of a job transfer, we were referred to Joyce Bryne by our friend.
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London Ontario
Jiadeep & Manmeet Dhingra
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This was my fourth time purchasing a home and was my best experience by far! Sheri went beyond my expectations in terms of how quickly she responded each and every time. It was quick, it was painless, and her friendly personality made it pleasant the whole way through! Would strongly recommend using Team Beckett – Wayne
Wayne
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Hi Ty, I was helped very much by Michael’s knowledge and experience, particularly as a first time home buyer. He was attentive to my needs and I appreciated his patience in working with me. Throughout the viewings and bidding experience, Michael learned about what I was looking for and reassured me along the way. He found me a listing I could not walk away from and supported my decision to put in an offer that he knew I’d be comfortable with. His recommendations and advice during the process made me at ease and ultimately excited to move to my new home. I am very happy to recommend him to friends and family.
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