425 Richmond Street, London | Image 1

425 Richmond Street

London, East F

  • Commercial

$1,699,000
For Sale

Added 1 week ago

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  • Type: Commercial/Retail

  • Property Type: Commercial

  • Business Type: Other

  • Zoning: DA1

  • Age: No Data

  • Taxes: 11601.29

  • MLS®#: X11968264

  • Added: Feb 11, 2025 (1 week ago)

  • Updated:

  • Last Checked: 2 hours ago

  • Listed By: ROYAL LEPAGE TRILAND REALTY

Located in the heart of downtown London, 421-425 Richmond Street is a fully tenanted, mixed-use commercial property that presents an exceptional investment opportunity. Zoned DA1, this turn-key building offers 1,875 square feet of commercial space, featuring two commercial units and eight residential units. Each residential unit is equipped with separate hydro meters and hot water tanks, with four units recently upgraded to market rent, while the remaining four offer additional value-add potential. Generating a gross annual rental income of $160,869, the property provides a strong return on investment. Positioned in a high-traffic area, it is within walking distance of shops, restaurants, public transportation, VIA Rail, Canada Life Place, Victoria Park, and Covent Garden Market. As part of the Downtown Heritage Conservation District, this property seamlessly blends historical charm with modern investment potential, making it a great opportunity for any investor looking to grow their portfolio.

Property

  • Status: Sale

  • Type: Other

  • Property Type: Commercial/Retail

  • Property Type: Multi-Use

  • Area: London

  • Community: East F

  • Availability Date: Flexible

Inside

  • Air Conditioning: N

Utilities

  • Utilities: Yes

Building

  • Basement: Y

  • Heat Type: Radiant

  • Freestanding: Y

  • Water Supply: Municipal

  • Physically Handicapped-Equipped: N

Parking

  • Garage Type: None

Fees

  • Tax Year: 2024

  • Taxes: $11,601

  • Taxes Type: Annual

Land

  • Cross Street: Carling St

  • Municipality District: London

  • Parcel Number: 082640051

  • Lot Depth: 35.52 Feet

  • Lot Frontage: 67.5 Feet

  • Zoning: DA1

Commercial Specific

  • Retail Area: 1875

  • Retail Area Metric: Sq Ft

  • Sprinklers: N

  • Total Area: 13191

  • Total Area Metric: Sq Ft

  • Lot Code: Lot

Walker's Paradise

  • Daily errands do not require a car.
97 /100

Excellent Transit

  • Most errands can be accomplished by public transportation.
73 /100

Very Bikeable

  • Most errands can be accomplished on bike.
86 /100
Map of 425 Richmond Street, London
JK-8

Victoria Public School

Elementary: Public
1.52 km
JK-8

St Georges Public School

Elementary: Public
1.57 km
JK-8

St Martin

Elementary: Catholic
1.63 km
JK-8

Tecumseh Public School

Elementary: Public
1.81 km
K-8

Lord Roberts Public School

Elementary: Public
1.17 km
K-8

Jeanne-Sauvé Public School

Elementary: Public
1.32 km
9-12

G A Wheable Secondary School

Secondary: Public
2.83 km
9-12

B Davison Secondary School Secondary School

Secondary: Public
2.56 km
9-12

London South Collegiate Institute

Secondary: Public
1.76 km
9-12

London Central Secondary School

Secondary: Public
0.67 km
9-12

Catholic Central High School

Secondary: Catholic
0.93 km
9-12

H B Beal Secondary School

Secondary: Public
1.30 km

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