Address
206 CENTRAL Avenue London, ON
Price
$ 2,450,000
Property Attributes
  • ID#40185626
  • TypeMulti-Family
  • CityLondon
  • NeighbourhoodEast F
  • Postal CodeN6A 1M7
  • Style
  • Price$ 2,450,000
  • Bedrooms7
  • Bathrooms0
  • Half Bathrooms0
  • Sqr Footage3506
Listing Provided Courtesy Of:
SUTTON GROUP - SELECT REALTY INC., BROKERAGE
Data Source:
Canadian Real Estate Association
Property Description

Fabulous property on Richmond Row. Anchor property on main level. Burrito Boyz. 4 luxury apartments 11 bedrooms in total. High end luxury finishes. Assumable mortgage of $1,248,000. VENDOR WILL HOLD A SECOND MORTGAGE FOR $500,000 AT 3%. Located just steps off Richmond, west on Central Ave. Rare opportunity to own a luxury building in the heart of Richmond Row. Gross income over $158,000.00 a year. Burrito Boyz signed a 5 year lease plus 5 year option. Laminate floors, ceramic, quartz countertops. All stainless steel appliances. 4 bedroom units have 2 full baths. 3 fireplaces. Ample parking. Burrito Boys Current Rent: $3,245/Month = $38,940/Year. June 1, 2023 Increase: $3,595/Month = $43,140/Year. June 1, 2028 Increase: $3,975/Month = $47,700/Year. Plus their share of taxes. Current commercial lease runs until 2028 with an additional 5 year option to 2033. (id:7434)

General Features

Ammenities Park, Public Transit, Shopping
Building Appliances Microwave
Building Cooling Type Central air conditioning
Community Features High Traffic Area
Features Park/reserve, Paved driveway
Location Description CENTRAL AVE JUST WEST OF RICHMOND. HEART OF RICHMOND ROW.
More Information Link https://www.realtor.ca/real-estate/23813658/206-central-avenue-london
Ownership Type Freehold
Property Type Multi-family
Zoning Description BUS DISTRICT COMMERCIAL

Interior Features

Basement Development Finished
Basement Type Partial (Finished)
Building Fireplace Present True
Building Fireplace Total 4
Building Fireplace Type Other - See remarks
Building Heating Fuel Electric, Natural gas
Building Heating Type Baseboard heaters, Forced air
Construction Style Attachment Detached
Fireplace Fuel Electric

Exterior Features

Exterior Finish Stucco
Land Amenities Park, Public Transit, Shopping
Parking Space Total 9
Sewer Municipal sewage system

Amenities

  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in N6A 1M7

Price
AVG $2.45M
$2.45M
Visits
AVG 6
5