354 Spruce ST new Save Request In-Person Tour Request Virtual Tour
London East,ON N5W 4N7
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100-1500
Subdivision East H
MLS Listing ID X12105861
Style 2-Storey
Bedrooms 3
Building Age 100+
Annual Tax Amount $5,002
Tax Year 2025
Property Sub-Type Triplex
Property Description
Situated on a beautiful quiet treed street, sits this newly renovated historic charmer multi-unit property. The second story addition of a new upper legal unit was just completed with building permit in 2023. Application is also submitted to fully legalize the garden suite unit and assurances can be provided by Seller to ensure this gets legalized for new Buyer. This is the perfect owner occupy mortgage helper, multi-generational home or turnkey investment property (over $66,000 in annual rent income currently).Top to bottom, nearly everything has been redone from new luxury vinyl plank floors throughout, new roofs, a new on demand high efficiency hot water heater system, new plumbing and electrical throughout, energy efficient windows, brand new kitchens (with gas stoves), brand new redone bathrooms with luxury tile, stainless steel appliances, and a brand new heat pump / AC system to be installed prior to closing. This is not one to miss, such a unique property with all these features rarely comes on the market. Presently the main level three bedroom unit is rented at $2074 a month; the upper unit is rented at $1400 a month (effective as of March 15th, 2025) and the garden suite unit is rented at $1529 a month; with the tenants covering all the properties utilities, with only the manageble gas bill being the owner's responsibility presently. As a bonus a contract is in place to lease the space in the basement until end of 2025 brining in an additional $640 montly. This property is at an 8%+ Cap Rate at asking price!
Location
Province ON
County Middlesex
Community East H
Area Middlesex
Rooms
Family Room No
Kitchen 3
Interior
Cooling None
Exterior
Exterior Feature Deck,Patio,Porch,Year Round Living,Recreational Area
Parking Features Front Yard Parking,Private
Pool None
View City
Roof Type Asphalt Shingle
Building
Foundation Concrete Block,Slab
Others
Virtual Tour https://view.ricoh360.com/d108407f-f9ef-4da7-9f99-c4942f28aa77