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:4069)
Address
344.5 RICHMOND STREET
List Price
$925,000
Property Type
Multi-family
Type of Dwelling
Multi-Family
Area
Ontario
Sub-Area
London
Floor Area
3,560 Sq. Ft.
Lot Size
20 x 97 FT Sq. Ft.
MLS® Number
X11884948
Listing Brokerage
EXP REALTY
Postal Code
N6A3C3
Zoning
DA1
