344.5 Richmond Street, London | Image 1

344.5 Richmond Street

London, East K

  • Commercial

$925,000
For Sale

Added 1 week ago

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  • Type: Investment

  • Property Type: Commercial

  • Zoning: DA1

  • Age: No Data

  • Taxes: 6141.2

  • MLS®#: X11884948

  • Added: Dec 06, 2024 (1 week ago)

  • Updated:

  • Last Checked: 1 hour ago

  • Listed By: EXP REALTY

Welcome to 344.5 Richmond Street, an exceptional mixed-use investment opportunity offering a compelling 6.1% cap rate at the asking price. This property features two newly renovated one-bedroom residential units, currently vacant, allowing the buyer to select tenants at market rates. A recently vacated commercial unit, ideal for an owner-operator or potential partial conversion into an additional residential unit. The property has undergone significant upgrades, including a brand-new roof (2024), as well as plumbing and electrical enhancements. Each unit is equipped with separate hydro meters and baseboard electric heating, leaving the landlord responsible only for water expenses. Located in a prime downtown area, this property offers exceptional returns and endless potential. Don't miss out on this outstanding investment opportunity!

Property

  • Status: Sale

  • Property Type: Investment

  • Property Type: Apartment

  • Area: London

  • Community: East K

  • Availability Date: TBD

Inside

  • Air Conditioning: N

Utilities

  • Utilities: Available

Building

  • Heat Type: Baseboard

  • Freestanding: Y

  • Water Supply: Municipal

Parking

  • Garage Type: None

Fees

  • Tax Year: 2023

  • Taxes: $6,141

  • Taxes Type: Annual

Land

  • Cross Street: Richmond St / King S

  • Municipality District: London

  • Parcel Number: 083210092

  • Lot Depth: 97 Feet

  • Lot Frontage: 20 Feet

  • Zoning: DA1

Commercial Specific

  • Total Area: 3560

  • Total Area Metric: Sq Ft

  • Lot Code: Lot

Map of 344.5 Richmond Street, London
JK-8

Wortley Road Public School

Elementary: Public
1.69 km
JK-8

Victoria Public School

Elementary: Public
1.42 km
JK-8

St Martin

Elementary: Catholic
1.40 km
JK-8

Tecumseh Public School

Elementary: Public
1.52 km
JK-8

St. John French Immersion School

Elementary: Catholic
1.28 km
K-8

Lord Roberts Public School

Elementary: Public
1.30 km
9-12

G A Wheable Secondary School

Secondary: Public
2.59 km
9-12

B Davison Secondary School Secondary School

Secondary: Public
2.37 km
9-12

London South Collegiate Institute

Secondary: Public
1.48 km
9-12

London Central Secondary School

Secondary: Public
0.82 km
9-12

Catholic Central High School

Secondary: Catholic
0.95 km
9-12

H B Beal Secondary School

Secondary: Public
1.28 km
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