Homes for sale - 1 RATHGAR Street, London, ON N5Z1Y3

Key Details

Property Type Multi-Family

Sub Type Freehold

Listing Status Active

Purchase Type For Sale

Square Footage 1,505 sqft

Price per Sqft $205

Subdivision East L

MLS Listing ID 40711264

Bedrooms 5

Originating Board Cornerstone - Waterloo Region

Year Built 1909

Lot Size 2,657 Sqft

Acres 2657.16

Property Sub-Type Freehold

Property Description

1 Rathgar Street is a very large side by side legal duplex with seperately metered hydro to each unit and previously held a rental license. This property is being offered as the lowest priced duplex in London by a margin of almost a hundred thousand dollars at the point of this listing! Oppurtunity knocks, its calling the right buyer to add ample upside through a full renovation of the interior with high rent potential. This would make for a suitable purchase for a seasoned investor, ambitious first time investor or skilled tradesperson. The majority of above ground square footage is on the ground level, with a lofted upper level in both units. Both units feature seperate entrances and one unit has a full back yard access as well. For those open to the consideration that this property needs ample renovation of the full interior (and possible exterior work); the oppurtunity exists as a solid dual income rental property or for someone looking for income offset potential, looking to live in one unit and use the rent from the other unit to help pay down the mortgage. The location situates this property close to the downtown core, near to many elementary, secondary and specialized schools, offers access to public transist routes, and is in close proximity to hospitals. Because of the nature of this sale and the property being in need of a lot of loving attention to bring forward its best and since the current owner has never resided in the subject property, it is being sold in as is/ where is condition, where the property will not be sold with any warrenties. Presently the property has occupants that were in place as a carry over from the previous sale (not tenants and there is no active or previous lease in place or any rent arrangement past or present and have made no payments to current owners for residing in property). Sellers are working to negotiate vacant possession; however preference is for Buyer's to take on current situation. (id:24570)

Location

Province ON

Rooms

Kitchen 0.0

Interior

Heating Forced air,

Cooling Central air conditioning

Exterior

Parking Features No

Fence Fence

Community Features Industrial Park,Community Centre,School Bus

View Y/N No

Total Parking Spaces 3

Private Pool No

Building

Story 1.5

Sewer Municipal sewage system

Others

Ownership Freehold