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:47423)
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Detailed Information
Lot
18 x 97 ft
Listing Contract Date
2024-12-16
Location Description
North of York and Richmond
Property Type
Retail
Transaction Type
For sale
Zoning Description
DA1
Building
Heating Fuel
Electric
Heating Type
Hot water radiator heat
Size (Exterior)
5200 square feet
Type
Residential Commercial Mix
Utility Water
Municipal water
Land
Total Size
Bldg=18 x 97 FT
Size of Irregular Land
Bldg=18 x 97 FT
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