354 Spruce Street London East (East H), Ontario N5W 4N7
$664,499
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:49269)
Property Details
| MLS® Number | X12105861 |
| Property Type | Multi-family |
| Community Name | East H |
| AmenitiesNearBy | Public Transit, Park, Schools |
| CommunityFeatures | Community Centre, School Bus |
| Features | Flat Site, In-law Suite |
| ParkingSpaceTotal | 3 |
| Structure | Deck, Patio(s), Porch |
| ViewType | City View |
Building
| BathroomTotal | 3 |
| BedroomsAboveGround | 3 |
| BedroomsTotal | 3 |
| Age | 100+ Years |
| Amenities | Separate Heating Controls |
| Appliances | Water Meter, Dryer, Range, Stove, Two Washers, Refrigerator |
| BasementDevelopment | Unfinished |
| BasementFeatures | Walk-up |
| BasementType | N/a (unfinished) |
| ConstructionStatus | Insulation Upgraded |
| CoolingType | Ventilation System |
| ExteriorFinish | Vinyl Siding |
| FireProtection | Smoke Detectors |
| FoundationType | Block, Slab |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air |
| StoriesTotal | 2 |
| SizeInterior | 1100 - 1500 Sqft |
| Type | Triplex |
| UtilityWater | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| FenceType | Fully Fenced, Fenced Yard |
| LandAmenities | Public Transit, Park, Schools |
| Sewer | Sanitary Sewer |
| SizeDepth | 233 Ft |
| SizeFrontage | 40 Ft |
| SizeIrregular | 40 X 233 Ft |
| SizeTotalText | 40 X 233 Ft|under 1/2 Acre |
| ZoningDescription | R2-3 |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | Bathroom | 1.75 m | 2.03 m | 1.75 m x 2.03 m |
| Second Level | Bedroom | 3.25 m | 8.84 m | 3.25 m x 8.84 m |
| Second Level | Kitchen | 3.05 m | 4.32 m | 3.05 m x 4.32 m |
| Basement | Utility Room | 4.7 m | 5.41 m | 4.7 m x 5.41 m |
| Main Level | Foyer | 1.47 m | 2.82 m | 1.47 m x 2.82 m |
| Main Level | Bedroom | 4.01 m | 2.9 m | 4.01 m x 2.9 m |
| Main Level | Living Room | 2.9 m | 4.27 m | 2.9 m x 4.27 m |
| Main Level | Bedroom 2 | 2.69 m | 3 m | 2.69 m x 3 m |
| Main Level | Bedroom 3 | 2.74 m | 2.92 m | 2.74 m x 2.92 m |
| Main Level | Study | 1.37 m | 1.07 m | 1.37 m x 1.07 m |
| Main Level | Bathroom | 2.59 m | 1.63 m | 2.59 m x 1.63 m |
| Main Level | Kitchen | 5.13 m | 3 m | 5.13 m x 3 m |
| Ground Level | Kitchen | 4.37 m | 2.54 m | 4.37 m x 2.54 m |
| Ground Level | Living Room | 2.67 m | 2.24 m | 2.67 m x 2.24 m |
| Ground Level | Bathroom | 1.6 m | 2.24 m | 1.6 m x 2.24 m |
Utilities
| Cable | Available |
| Sewer | Installed |
https://www.realtor.ca/real-estate/28219510/354-spruce-street-london-east-east-h-east-h
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April 26 2025 03:51:57
London and St. Thomas Association of REALTORS®
Exp Realty