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:4069)
Address
425 RICHMOND STREET
List Price
$1,699,000
Property Type
Retail
Area
Ontario
Sub-Area
London
Floor Area
13,191 Sq. Ft.
Lot Size
67.5 x 35.52 FT Sq. Ft.
MLS® Number
X11968264
Listing Brokerage
ROYAL LEPAGE TRILAND REALTY
Postal Code
N6A3C8
Zoning
DA1
