$664,499
Available - For Sale
Listing ID: X12105861
354 Spruce Stre , London East, N5W 4N7, Middlesex
| 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! |
| Price | $664,499 |
| Taxes: | $5002.00 |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 354 Spruce Stre , London East, N5W 4N7, Middlesex |
| Acreage: | < .50 |
| Directions/Cross Streets: | Dundas Street / Wavell Street |
| Rooms: | 15 |
| Rooms +: | 1 |
| Bedrooms: | 3 |
| Bedrooms +: | 0 |
| Family Room: | F |
| Basement: | Unfinished, Walk-Up |
| Level/Floor | Room | Length(ft) | Width(ft) | Descriptions | |
| Room 1 | Main | Foyer | 4.82 | 9.25 | |
| Room 2 | Main | Bedroom | 13.15 | 9.51 | |
| Room 3 | Main | Living Ro | 9.51 | 14.01 | |
| Room 4 | Main | Bedroom 2 | 8.82 | 9.84 | |
| Room 5 | Main | Bedroom 3 | 8.99 | 9.58 | |
| Room 6 | Main | Study | 4.49 | 3.51 | |
| Room 7 | Main | Bathroom | 8.5 | 5.35 | 4 Pc Bath |
| Room 8 | Main | Kitchen | 16.83 | 9.84 | Combined w/Dining |
| Room 9 | Basement | Utility R | 15.42 | 17.74 | |
| Room 10 | Second | Kitchen | 10 | 14.17 | |
| Room 11 | Second | Bathroom | 5.74 | 6.66 | 3 Pc Bath |
| Room 12 | Second | Bedroom | 10.66 | 29 | Combined w/Living |
| Room 13 | Ground | Kitchen | 14.33 | 8.33 | Combined w/Dining |
| Room 14 | Ground | Living Ro | 8.76 | 7.35 | |
| Room 15 | Ground | Bathroom | 5.25 | 7.35 |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 4 | Main |
| Washroom Type 2 | 3 | Second |
| Washroom Type 3 | 3 | Ground |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Total Area: | 0.00 |
| Approximatly Age: | 100+ |
| Property Type: | Triplex |
| Style: | 2-Storey |
| Exterior: | Vinyl Siding |
| Garage Type: | None |
| (Parking/)Drive: | Front Yard |
| Drive Parking Spaces: | 3 |
| Park #1 | |
| Parking Type: | Front Yard |
| Park #2 | |
| Parking Type: | Front Yard |
| Park #3 | |
| Parking Type: | Private |
| Pool: | None |
| Other Structures: | Fence - Full, |
| Approximatly Age: | 100+ |
| Approximatly Square Footage: | 1100-1500 |
| Property Features: | Public Trans, Rec./Commun.Centre |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Heat Type: | Forced Air |
| Central Air Conditioning: | None |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Elevator Lift: | False |
| Sewers: | Sewer |
| Utilities-Cable: | A |
| Utilities-Hydro: | Y |
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Sachi Patel
Broker
Dir:
647-702-7117
Bus:
6477027117
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At a Glance:
| Type: | Freehold - Triplex |
| Area: | Middlesex |
| Municipality: | London East |
| Neighbourhood: | East H |
| Style: | 2-Storey |
| Approximate Age: | 100+ |
| Tax: | $5,002 |
| Beds: | 3 |
| Baths: | 3 |
| Fireplace: | N |
| Pool: | None |
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