575 Ridout ST N new Save Request In-Person Tour Request Virtual Tour
London East,ON N6A 2R2
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 9,750 sqft
Price per Sqft $220
Subdivision East F
MLS Listing ID X12377866
Building Age 51-99
Annual Tax Amount $23,658
Tax Year 2025
Property Sub-Type Investment
Property Description
Well maintained 2.5 storey, 11 unit walk up apartment building in an established residential area close to downtown. Property Size: 0.25 acres. Official Plan: Multi-family, High Density Residential; Open Space. Development potential. Building consists of 11 - 1 bedroom, 1 bathroom units, all of similar size and layout. 8 units have been renovated and feature a dishwasher. There are 3 apartments on the lower level along with the laundry room and tenant storage and 4 units on each of the upper floors. 12 on site surface parking spots. Coin operated laundry on site, with 2 owned washers and dryers. Individual tenant storage lockers in the basement. Separate hydro meters. Current NOI: $120,842.64, Projected NOI: $157,005.00. Roof (TPO) replaced 2 years ago. 2 Boilers with storage tanks for domestic hot water replaced approximately 10 years ago. Close proximity to the downtown core, the Thames River, walking trails and public transit. Zoning: R10-3*H30.
Location
Province ON
County Middlesex
Community East F
Area Middlesex
Zoning R10-3*H30
Interior
Cooling No
Exterior
Community Features Public Transit
Utilities Available Available
Lot Frontage 62.16
Lot Depth 150.69
Others
Security Features No
Virtual Tour https://my.matterport.com/show/?m=ntSyVDF2YDC