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$1,700,000
Est. payment /mo
5,200 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Store W Apt/Office
Listing Status Active
Purchase Type For Sale
Square Footage 5,200 sqft
Price per Sqft $326
Subdivision East K
MLS Listing ID X11894453
Annual Tax Amount $7,719
Tax Year 2024
Property Sub-Type Store W Apt/Office
Property Description
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!
Location
Province ON
County Middlesex
Community East K
Area Middlesex
Interior
Cooling No
Exterior
Utilities Available Yes
Lot Depth 97.0
Others
Security Features No
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Listed by TEAM GLASSER REAL ESTATE BROKERAGE INC.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "