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:56069)
| MLS® Number | X11894453 |
| Property Type | Retail |
| Community Name | East K |
| Heating Fuel | Electric |
| Heating Type | Hot Water Radiator Heat |
| Size Exterior | 5200 Sqft |
| Size Interior | 5,200 Ft2 |
| Type | Residential Commercial Mix |
| Utility Water | Municipal Water |
| 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 |
7 public & 6 Catholic schools serve this home. Of these, 10 have catchments. There are 2 private schools nearby.
3 trails, 2 rinks and 3 other facilities are within a 20 min walk of this home.
Street transit stop less than a 1 min walk away. Rail transit stop less than 1 km away.
Unfortunately this location does not yet exist in Google Street View.
https://www.realtor.ca/real-estate/27741149/342-richmond-street-london-east-k
Contact us for more information
Cody Tilbury
Broker
(519) 670-0385
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