Oxford County Realtor
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! (id:37841)
| MLS® Number | 40721396 |
| Property Type | Multi-family |
| Amenities Near By | Airport, Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping |
| Community Features | Community Centre, School Bus |
| Features | Crushed Stone Driveway |
| Parking Space Total | 3 |
| Bathroom Total | 3 |
| Bedrooms Total | 3 |
| Basement Development | Unfinished |
| Basement Type | Full (unfinished) |
| Constructed Date | 1910 |
| Construction Material | Concrete Block, Concrete Walls |
| Cooling Type | None |
| Exterior Finish | Concrete, Vinyl Siding |
| Foundation Type | Block |
| Heating Fuel | Electric, Natural Gas |
| Heating Type | Baseboard Heaters, Forced Air |
| Stories Total | 2 |
| Size Interior | 1,390 Ft2 |
| Type | Triplex |
| Utility Water | Municipal Water |
| Access Type | Road Access |
| Acreage | No |
| Fence Type | Fence |
| Land Amenities | Airport, Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 233 Ft |
| Size Frontage | 40 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | R2-3 |
https://www.realtor.ca/real-estate/28218723/354-spruce-street-london
Contact us for more information
Nathan Blanco
Salesperson
(866) 530-7737
(647) 849-3180
exprealty.ca/
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