425 Richmond Street London, Ontario N6A 3C8
$1,699,000
Located in the heart of downtown London, 421-425 Richmond Street is a fully tenanted, mixed-use commercial property that presents an exceptional investment opportunity. Zoned DA1, this turn-key building offers 1,875 square feet of commercial space, featuring two commercial units and eight residential units. Each residential unit is equipped with separate hydro meters and hot water tanks, with four units recently upgraded to market rent, while the remaining four offer additional value-add potential. Generating a gross annual rental income of $160,869, the property provides a strong return on investment. Positioned in a high-traffic area, it is within walking distance of shops, restaurants, public transportation, VIA Rail, Canada Life Place, Victoria Park, and Covent Garden Market. As part of the Downtown Heritage Conservation District, this property seamlessly blends historical charm with modern investment potential, making it a great opportunity for any investor looking to grow their portfolio. (id:51356)
Property Details
| MLS® Number | X11968264 |
| Property Type | Retail |
| Community Name | East F |
| Farm Type | Other |
Building
| Heating Type | Radiant Heat |
| Size Interior | 13,191 Ft2 |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 35 Ft ,6 In |
| Size Frontage | 67 Ft ,6 In |
| Size Irregular | 67.5 X 35.52 Ft |
| Size Total Text | 67.5 X 35.52 Ft |
| Zoning Description | Da1 |
https://www.realtor.ca/real-estate/27904342/425-richmond-street-london-east-f
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February 11 2025 09:50:44
London and St. Thomas Association of REALTORS®
Royal LePage Triland Realty
