Property Details

224, 226 & 230 RICHMOND Street, London, Ontario, N6B2H6

224, 226 & 230 RICHMOND Street, London, Ontario, N6B2H6 (ID 40254308)
Representative
Brenda Creeden portrait
Brenda Creeden
Broker
RE/MAX Centre City Realty Inc., Brokerage - St. Thomas
Cell: 519-495-4532
Tel: ST. THOMAS 519-633-1000 or PORT STANLEY 519-782-5505

$1,855,855 - For sale

ID#:40254308

MULTI-PROPERTY MULTI-UNIT INVESTOR'S PACKAGE - 7 UNITS/DOORS & PARCEL OF LAND w/ 9+ ADDITIONAL UNIT DEV POTENTIAL: This listing includes a three unit building and two legal duplex units, a single car garage along with a parcel of tied land (three seperate addresses; 224, 226 & 230 Richmond Street). At the mouth of downtown London on the historic Richmond Street just north of the Thames River and northeast of iconic Wortley Village; this offering has investment potential as a short or long term hold; with ample possibilities at future development. These properties are currently fully tenanted. Present Net Operating Income (NOI) before lending costs of the seven combinded rented units is over $67,000 and at current market rents (conservative values) could be over $100,000 Net Operating Income (NOI) before lending costs (refer to Proforma in Documents). 230 Richmond Street is a three unit building with three bedroom units on the main and upper levels and a two bedroom unit on the lower level. All units in this three unit building include in suite laundry and dishwashers. Main floor unit was freshly renovated in 2021. All present tenants pay their hydro expenses in this property. 226 Richmond Street is a semi-detached duplex with a one bedroom upper unit and one bedroom lower unit. 224 Richmond Street is the other half the semi-detached duplex and has a two bedroom upper unit and a two bedroom lower unit. 224 Richmond Street also includes a parcel of tied land (formally three seperate addresses - 220 & 222 & 224 Richmond Street that have merged under single ownership). Property being sold as is/where is(R3-1 zoning). Adjacent properties are zoned as AC4 commercial. Planner has suggested that Nine - Fifteen Unit building can be constructed on vacant lot that is currently part of 224 Richmond property. This oppurtunity is particularly valuable to potential developers/ builders. (id:2471)

Location DescriptionTake Horton Street to Richmond Street; Head South; Property on East Side of Street

Property Details
  • Property Address:224, 226 & 230 RICHMOND Street, London, Ontario, N6B2H6
  • Property Type:Other
  • Title:Freehold
  • Lot Size:under 1/2 acre
  • Acreage:under 1/2 acre
  • Sewage Type:Municipal sewage system
  • Water Type:Municipal water
  • Access:Road access
  • Driveway:Detached Garage
  • Parking Space Total:8
Structure Details for 224, 226 & 230 RICHMOND Street, London, Ontario, N6B2H6
  • Heating Type:Natural gas, Forced air, Hot water radiator heat, Radiant heat
  • Storeys:2
  • Basement Type:Partial (Partially finished)
  • Foundation Type:Poured Concrete
  • Cooling Type:None
  • Exterior Type:Brick, Vinyl siding
Amenities for 224, 226 & 230 RICHMOND Street, London, Ontario, N6B2H6 Community Centre, School Bus
  • Amenities Nearby:Hospital, Park, Place of Worship, Playground, Public Transit, Schools, Shopping
Representative
Brenda Creeden portrait
Brenda Creeden
Broker
RE/MAX Centre City Realty Inc., Brokerage - St. Thomas
Cell: 519-495-4532
Tel: ST. THOMAS 519-633-1000 or PORT STANLEY 519-782-5505
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224, 226 & 230 RICHMOND Street, London, Ontario, N6B2H6

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