1 Rathgar Street is a very large side by side legal duplex with seperately metered hydro to each unit and previously held a rental license. This property is being offered as the lowest priced duplex in London by a margin of almost a hundred thousand dollars at the point of this listing! Oppurtunity knocks, its calling the right buyer to add ample upside through a full renovation of the interior with high rent potential. This would make for a suitable purchase for a seasoned investor, ambitious first time investor or skilled tradesperson. The majority of above ground square footage is on the ground level, with a lofted upper level in both units. Both units feature seperate entrances and one unit has a full back yard access as well. For those open to the consideration that this property needs ample renovation of the full interior (and possible exterior work); the oppurtunity exists as a solid dual income rental property or for someone looking for income offset potential, looking to live in one unit and use the rent from the other unit to help pay down the mortgage. The location situates this property close to the downtown core, near to many elementary, secondary and specialized schools, offers access to public transist routes, and is in close proximity to hospitals. Because of the nature of this sale and the property being in need of a lot of loving attention to bring forward its best and since the current owner has never resided in the subject property, it is being sold in "as is/ where is" condition, where the property will not be sold with any warrenties. Presently the property has occupants that were in place as a carry over from the previous sale (not tenants and there is no active or previous lease in place or any rent arrangement past or present and have made no payments to current owners for residing in property). Sellers are working to negotiate vacant possession; however preference is for Buyer's to take on current situation.
Address
1 Rathgar Street
List Price
$309,900
Property Type
Residential Freehold
Type of Dwelling
Duplex
Style of Home
1 1/2 Storey
Area
London East
Sub-Area
East L
County
Middlesex
Bedrooms
5
Bathrooms
2
Floor Area
1500 - 2000 Sq. Ft.
Lot Size Source
MPAC
Lot Depth
91.33
Lot Shape
Rectangular
Lot Irregularities
91.33 ft x 28.69 ft x 91.26 ft x 29.46ft
Lot Size Range (Acres)
< .50
Lot Size Units
Feet
Lot Width
29.42
Approx. Age
100+ Years
MLS® Number
X12046878
Listing Brokerage
EXP REALTY
Basement Area
Unfinished, Partial Basement
Postal Code
N5Z 1Y3
Parking
Private Triple
Parking Places (Total)
3
Tax Amount
$2,564.00
Tax Year
2024
Interior Features
Accessory Apartment, Water Meter, Separate Hydro Meter
Property Features
Arts Centre, Public Transit, School Bus Route, School, Hospital, Rec./Commun.Centre
Heat Source
Gas
Heat Type
Forced Air
Cooling Features
Central Air
Construction Materials
Metal/Steel Siding
Direction Faces
East
Foundation Details
Concrete Block
Garage Type
None
Kitchens Total
2
Other Structures
Fence - Full
Pool Features
None
Roof
Asphalt Shingle
Sewer
Sewer
