342 Richmond Street London, Ontario N6A 3C3
$1,700,000
Prime investment opportunity in the heart of Downtown London! Welcome to 342 Richmond Street, a fully tenanted mixed-use commercial building that perfectly blends income-generating potential with modern upgrades. Featuring an established ground-level storefront and five beautifully renovated residential units, three spacious 2-bedroom, 1-bathroom apartments and two cozy 1-bedroom, 1-bathroom units, this property is designed to attract quality tenants. Each residential unit showcases updated finishes, ensuring long-term tenant satisfaction, while the convenience of on-site laundry adds extra appeal. Recent improvements include a brand-new roof, offering peace of mind for years to come. With a stellar net operating income of $111,000 annually and a high-demand location amidst Londons bustling core, this property is a rare find. Just steps from trendy shops, dining, and cultural landmarks, this property offers an exceptional opportunity to own a turnkey asset in a thriving urban center. Don't miss your chance to capitalize on this premium downtown cash cow! (id:59646)
Property Details
| MLS® Number | X11894453 |
| Property Type | Retail |
| Community Name | East K |
Building
| Heating Fuel | Electric |
| Heating Type | Hot Water Radiator Heat |
| Size Exterior | 5200 Sqft |
| Size Interior | 5200 Sqft |
| Type | Residential Commercial Mix |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 97 Ft |
| Size Frontage | 18 Ft |
| Size Irregular | Bldg=18 X 97 Ft |
| Size Total Text | Bldg=18 X 97 Ft |
| Zoning Description | Da1 |
https://www.realtor.ca/real-estate/27741149/342-richmond-street-london-east-k
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December 17 2024 12:50:37
London and St. Thomas Association of REALTORS®
Team Glasser Real Estate Brokerage Inc.
