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Type: Store W/Apt/Office
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Property Type: Commercial
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Zoning: DA1
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Age: No Data
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Taxes: 7719.67
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MLS®#: X11894453
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Added: Dec 16, 2024 (1 day ago)
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Updated:
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Last Checked: 2 hours ago
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Listed By: TEAM GLASSER REAL ESTATE BROKERAGE INC.
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!
Property
Status: Sale
Property Type: Store W/Apt/Office
Property Type: Store With Apt/Office
Area: London
Community: East K
Availability Date: Flexible
Inside
Air Conditioning: N
Utilities
Utilities: Yes
Building
Basement: Y
Heat Type: Elec Hot Water
Elevator: None
Freestanding: N
Water Supply: Municipal
Parking
Garage Type: None
Fees
Tax Year: 2024
Taxes: $7,720
Taxes Type: Annual
Land
Cross Street: North of York and Ri
Municipality District: London
Parcel Number: 083210094
Lot Depth: 97 Feet
Lot Frontage: 18 Feet
Zoning: DA1
Commercial Specific
Retail Area: 1733
Retail Area Metric: Sq Ft
Sprinklers: N
Total Area: 5200
Total Area Metric: Sq Ft
Office Size: 3466
Office Size Metric: Sq Ft
Lot Code: Building
Wortley Road Public School
Elementary: PublicVictoria Public School
Elementary: PublicSt Martin
Elementary: CatholicTecumseh Public School
Elementary: PublicSt. John French Immersion School
Elementary: CatholicLord Roberts Public School
Elementary: PublicG A Wheable Secondary School
Secondary: PublicB Davison Secondary School Secondary School
Secondary: PublicLondon South Collegiate Institute
Secondary: PublicLondon Central Secondary School
Secondary: PublicCatholic Central High School
Secondary: CatholicH B Beal Secondary School
Secondary: Public
