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354 SPRUCE STREET
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354 SPRUCE STREET $664,499
4 days ago
$664,499
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354 SPRUCE STREET
London East (East H), Ontario N5W4N7

MLS® Number: X12105861
3
Bedrooms
3
Bathrooms
1100 - 1500
Square Feet

Listing 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! (40325371)

Location Description

Dundas Street / Wavell Street

Property Summary

Property Type
Multi-family
Building Type
Triplex
Storeys
2
Square Footage
1100 - 1500 sqft
Community Name
East H
Land Size
40 x 233 FT|under 1/2 acre
Age Of Building
100+ years
Annual Property Taxes
$5,002
Parking Type
No Garage
Time on REALTOR.ca
4 days

Building

Bedrooms
Above Grade
3
Bathrooms
Total
3
Interior Features
Appliances Included
Water meter, Dryer, Range, Stove, Two Washers, Refrigerator
Basement Features
Walk-up
Basement Type
N/A (Unfinished)
Building Features
Features
Flat site, In-Law Suite
Foundation Type
Block, Slab
Construction Status
Insulation upgraded
Fire Protection
Smoke Detectors
Building Amenities
Separate Heating Controls
Structures
Deck, Patio(s), Porch
Heating & Cooling
Cooling
Ventilation system
Heating Type
Forced air (Natural gas)
Utilities
Utility Type
Cable (Available), Sewer (Installed)
Utility Sewer
Sanitary sewer
Water
Municipal water
Exterior Features
Exterior Finish
Vinyl siding
Neighbourhood Features
Community Features
Community Centre, School Bus
Amenities Nearby
Public Transit, Park, Schools
Parking
Parking Type
No Garage
Total Parking Spaces
3

Measurements

Square Footage
1100 - 1500 sqft

Rooms

MetricImperial
Main level
Foyer
Bedroom
Living room
Bedroom 2
Bedroom 3
Study
Bathroom
Kitchen
Second level
Bathroom
Bedroom
Kitchen
Basement
Utility room
Ground level
Kitchen
Living room
Bathroom

Land

Lot Features
Fencing
Fully Fenced, Fenced yard
Frontage
40 ft
Land Depth
233 ft
View
City view
Other Property Information
Zoning Description
R2-3
Data provided by: London and St. Thomas Association of REALTORS® 342 COMMISSIONERS Road West, LONDON, Ontario N6J 1Y3
NATHAN BLANCO
Salesperson
226-224-1390
REALTOR® Website View Listing on REALTOR® Website
Email
Book showing
EXP REALTY
Brokerage
380 WELLINGTON STREET
LONDON, Ontario N6A5B5
866-530-7737

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