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! (id:56069)
| MLS® Number | X11884948 |
| Property Type | Multi-family |
| Community Name | East K |
| Appliances | Refrigerator, Stove |
| Heating Type | Baseboard Heaters |
| Size Interior | 3,560 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
| Acreage | No |
| Size Depth | 97 Ft |
| Size Frontage | 20 Ft |
| Size Irregular | 20 X 97 Ft |
| Size Total Text | 20 X 97 Ft |
| Zoning Description | Da1 |
https://www.realtor.ca/real-estate/27720645/3445-richmond-street-london-east-k
Contact us for more information
Andrew Odoardi
Salesperson
(866) 530-7737
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