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224, 226 & 230 Richmond Street, London, ON, N6B 2H6

MLS® # 40254308
Commercial For Sale In Central London, London, Ontario
$1,855,855

14 Beds

0 Baths

224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
224, 226 & 230 Richmond Street, London, ON
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ACTIVE
224, 226 & 230 Richmond Street, London, ON, N6B 2H6
$1,855,855

14 Beds

0 Baths

Property Information:

MULTI-PROPERTY MULTI-UNIT INVESTOR'S PACKAGE - 7 UNITS/DOORS & PARCEL OF LAND w/ 9+ ADDITIONAL UNIT DEV POTENTIAL:This listing includes a three unit building and two legal duplex units, a single car garage along with a parcel of tied land (three seperate addresses; 224, 226 & 230 Richmond Street). At the mouth of downtown London on the historic Richmond Street just north of the Thames River and northeast of iconic Wortley Village; this offering has investment potential as a short or long term hold; with ample possibilities at future development. These properties are currently fully tenanted. Present Net Operating Income (NOI) before lending costs of the seven combinded rented units is over $67,000 and at current market rents (conservative values) could be over $100,000 Net Operating Income (NOI) before lending costs (refer to Proforma in Documents). 230 Richmond Street is a three unit building with three bedroom units on the main and upper levels and a two bedroom unit on the lower level. All units in this three unit building include in suite laundry and dishwashers. Main floor unit was freshly renovated in 2021. All present tenants pay their hydro expenses in this property. 226 Richmond Street is a semi-detached duplex with a one bedroom upper unit and one bedroom lower unit. 224 Richmond Street is the other half the semi-detached duplex and has a two bedroom upper unit and a two bedroom lower unit. 224 Richmond Street also includes a parcel of tied land (formally three seperate addresses - 220 & 222 & 224 Richmond Street that have merged under single ownership).Property being sold "as is/where is"(R3-1 zoning). Adjacent properties are zoned as AC4 commercial. Planner has suggested that Nine - Fifteen Unit building can be constructed on vacant lot that is currently part of 224 Richmond property. This oppurtunity is particularly valuable to potential developers/ builders.

Inclusions: Includes Appliances From All Units And Shared Laundry Facility (Shared By 226 & 224 Richmond Street)- 7 Stoves, 7 Refridgerators; 3 Dishwashers; 4 Washing Machines; & 4 Clothes Dryers

Exclusions : All Items Owned By Current Tenants (Interior And Exterior Items).

Property Features:

  • Bedrooms: 14
  • Acres Range: < 0.5
  • Basement: Separate Entrance, Walk-Out Access, Walk-Up Access, Partial, Partially Finished
  • Construction Materials: Vinyl Siding
  • Cooling: None
  • Driveway Parking: Lane/Alley Parking, Private Drive Single Wide
  • Heating: Forced Air, Natural Gas, Radiant, Water Radiators
  • Interior Features: Ceiling Fan(s), Separate Hydro Meters
  • Laundry Features: Common Area, In Basement, In-Suite, Inside, Lower Level, Main Level, Shared, Upper Level
  • Lot Depth: 110 Feet
  • Lot Features: Urban, Rectangular, Arts Centre, Business Centre, City Lot, Hospital, Library, Open Spaces, Park, Place of Worship, Playground Nearby, Public Parking, Public Transit, Rec./Community Centre, Regional Mall, School Bus Route, Schools, Shopping Nearby, Trails, Other
  • Lot Frontage: 119.50 Feet
  • Parking Features: Detached Garage
  • Road Frontage Type: Public Road, Year Round Road
  • Road Surface Type: Paved
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Water Source: Municipal-Metered
  • Zoning: R3-1
  • Sewer: Sewer (Municipal)
  • No. of Parking Spaces: 8

Courtesy of: EXP REALTY, BROKERAGE

Data provided by: London St. Thomas Association of REALTORS® 342 Commissioners Rd. W., London, Ontario N6J 1Y3
All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations are made of any kind. Copyright© 2021 All Rights Reserved

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Market Price Trends

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Location of 224, 226 & 230 Richmond Street, London, ON, N6B 2H6

Climate Risk Data

About Climate Risk: Properties are at increased risk of damage from extreme weather due to climate change.
ClimateCheck provides detailed climate risk data for properties now and up to 30 years into the future.

Projected Heat Risk: High

35 hot days expected in 2050

Projected Storm Risk: Very High

14 storms expected in 2050

Projected Heat Risk: High

35 hot days expected in 2050

55/100

High

ClimateCheck®

Current data

This property, 224, 226 & 230 Richmond Street , experiences 7 hot days per year at around 31 degrees Celsius.

Projected data

Severe heat risk is expected to increase in this area. In 2050, it is projected that there will be 35 hot days at 34.5 degrees Celsius.

Projected Avg. Temperature

Past
31℃
2050
34.5℃

# Hot Days Per Year

Past
7
2050
35

About Heat Risk

Heat risk is the number of extreme heat days experienced each year looking at historical conditions (1980-2005) in your area and taking the 2% of the hottest days and projecting that into the future.

Projected Storm Risk:

14 storms expected in 2050

63/100

ClimateCheck®

Current data

This property, 224, 226 & 230 Richmond Street , experiences 11 significant 2-day storms per year, with about 328.5mm of precipitation per storm.

Projected data

Severe storms are expected to increase in this area. In 2050, it is projected that there will be 14 significant 2-day storms with 404.2mm of precipitation per year.

Precipitation Per Storm

Past
328.5mm
2050
404.2mm

48-Hour Storms Per Year

Past
11
2050
14

About Storm Risk

Storm risk is the number of high wind, wet or snowy events each year. Climate check looks at historical conditions (1980-2005) in your area, on the days with the top 1% of total precipitation in a year and projected to 2050.

Climate risk data is provided for informational purposes only on Royallepage.ca.
If you have questions or feedback about this data, get help at climatecheck.com.

Environmental Risks provided by ClimateCheck®

Royal LePage does not endorse nor guarantee this information. By providing this information, Royal LePage and its agents are not providing advice or guidance on climate risks. Royal LePage strongly recommends that consumers independently investigate the property’s climate risks to their own personal satisfaction.

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Demographic Information of 224, 226 & 230 Richmond Street, London, ON, N6B 2H6

Life Stage

Young Singles

Employment Type

Service Sector/White Collar

Average Household Income

$102,931.17

Average Number of Children

1.41

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

7.94 %

High school certificate or equivalent

23.6 %

Apprenticeship trade certificate/diploma

3.79 %

College/non-university certificate

19.78 %

University certificate (below bachelor)

2.26 %

University Degree

35.63 %

Commuter

Travel To Work

By Car

71.37 %

By Public Transit

8.8 %

By Walking

13.35 %

By Bicycle

0.97 %

By Other Methods

5.51 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

86.18 %

Houses

13.35 %

Own Vs. Rent

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