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354 Spruce Street London East, Ontario N5W 4N7

3 Bedroom 3 Bathroom 1100 - 1500 sqft
Ventilation System Forced Air

$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:38414)

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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 Dimensions
Second Level Bathroom 1.75 m x 2.03 m
Second Level Bedroom 3.25 m x 8.84 m
Second Level Kitchen 3.05 m x 4.32 m
Basement Utility Room 4.7 m x 5.41 m
Main Level Foyer 1.47 m x 2.82 m
Main Level Bedroom 4.01 m x 2.9 m
Main Level Living Room 2.9 m x 4.27 m
Main Level Bedroom 2 2.69 m x 3 m
Main Level Bedroom 3 2.74 m x 2.92 m
Main Level Study 1.37 m x 1.07 m
Main Level Bathroom 2.59 m x 1.63 m
Main Level Kitchen 5.13 m x 3 m
Ground Level Kitchen 4.37 m x 2.54 m
Ground Level Living Room 2.67 m x 2.24 m
Ground Level Bathroom 1.6 m x 2.24 m

Utilities

Cable Available
Sewer Installed

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April 26 2025 03:51:57

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