Header

 

logo

header

$1,855,855
Available - For Sale
Listing ID: X8259362
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.
Price $1,855,855
Taxes: $4,234.26
Assessment: $459000
Assessment Year: 2016
Occupancy by: Tenant
Address: 224, 22 RICHMOND St , London, N6B 2H6, Ontario
Postal Code: N6B 2H6
Province/State: Ontario
Legal Description: 230 Richmond Street:PT LT 10 , SW HORTON
Lot Size: 119.5 x 110 (Feet)
Directions/Cross Streets: Horton Street
Zoning: R3-1
Total Area: 3,978
Total Area Code:  Sq Ft
Area Influences: Public Transit   Rec Centre
Approximatly Age: 51-99
Financial Statement: Y
Chattels: Y
Insurance Expense: $3225
Maintenance: 295.21
 Heat Expenses: $5580
 Hydro Expense:  $5340
Other Expenses: $2657
Operating Expenses: $21331
Expenses Actual/Estimated: $Act
Heat Type: Forced Air
Central Air Conditioning: None
Sewers: Sewers
Water: Municipal
First Name: *
Last Name: *
Phone: *
Email: *
Showing Date:
Showing Time:
I Am Thinking of Moving
 
First Name: *
Last Name: *
Phone: *
Email: *

Message:

From:

Name:
Email:

To:

Name:
Email:

Comment:

 

Down payment: $  
Interest Rate: %  
Amortization :  Years
Payment Frequency:
Your Payment:
This calculator is for demonstration purposes only. Always consult a professional financial advisor before making personal financial decisions.
Asking Price: $ Heating: $ /Year  
Interest Rate: % Condo Fee: $ /Year
Taxes:   $ /Year Other Debt: $ /Year  
Amortization:     Years GDS: %
    TDS: %
Percent Down:
Down Payment $ $ $ $
First Mortgage $ $ $ $
CMHC/GE $ $ $ $
Total Financing $ $ $ $
Monthly P&I $ $ $ $
Expenses $ $ $ $
Total Payment $ $ $ $
Income Required $ $ $ $

This chart is for demonstration purposes only. Always consult a professional financial advisor before making personal financial decisions.

Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
EXP Realty

224, 22 RICHMOND St , London, N6B 2H6, Ontario


 
 Book Showing   Email a Friend 
Jump To:
At a Glance:
Type: Com - Investment
Area: Middlesex
Municipality: London
Neighbourhood: East K
Style:
Lot Size: 119.50 x 110.00(Feet)
Approximate Age: 51-99
Tax: $4,234.26
Maintenance Fee: $295.21
Beds:
Baths: 7
Garage: 0
Fireplace:
Air Conditioning:
Pool:
Locatin Map:
View Larger Map
Payment Calculator:
Price:
Down Payment: %
Rate: %
Amortization:  Years
Frequency
Calculate
Down Payment:
Mortgage Payment:
This calculator is for demonstration purposes only. Always consult a professional financial advisor before making personal financial decisions.
Listing info
Description
General Details
Property Detail
Financial Info
Utilities and more
Get More Info:
Book Showing
Request More Info
Email Friend
Photos and movies:
View Slide Show
View All Photos
Calculator:
Affordability Chart
Mortgage Calculator
More To Do:
Print This Page

Listing added to compare list, click here  to view comparison chart.
!-- start of askavenue script -->