Welcome to 344.5 Richmond Street, an exceptional mixed-use investment opportunity offering a compelling 6% + 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 and a recently tenanted commercial unit on a 5-year lease. 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. BONUS: Vendor willing to provide a first-position VTB! Located in a prime downtown area, this property offers exceptional returns and endless potential. Don't miss out on this outstanding investment opportunity!
Address
344.5 Richmond Street
List Price
$899,900
Property Type
Commercial
Type of Dwelling
Investment
Area
London
Sub-Area
East K
County
Middlesex
Lot Size Source
GeoWarehouse
Lot Depth
97
Lot Type
Lot
Lot Size Units
Feet
Lot Width
20
MLS® Number
X12045257
Listing Brokerage
EXP REALTY
Postal Code
N6A 3C3
Tax Amount
$6,141.20
Tax Year
2024
Heat Type
Baseboard
Cooling Features
No
Garage Type
None
