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$ 2,150,000
Est. payment /mo
New
575 Ridout ST N London East, ON N6A 2R2
9,750 SqFt
UPDATED:
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
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Listed by A TEAM LONDON