354 SPRUCE STREET, London

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. This is the perfect owner occupy mortgage helper, multi-generational home or turnkey investment property (over $62,000 annual rent income possible). Presently the main level three bedroom unit is rented at $2074 a month plus utilities; while both the upper level unit and the garden suite units are each generating $1423 a month inclusive of utilites. These two units are set to turn and the projected rent is $1549 for the upper unit and $1595 for the garden suite. There is a rare detatched coach house tucked away in the backyard that provides the perfect work-from-home studio location you have been searching for or just additional income! 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. Seller financing / vendor take back option to aid in the process of downpayment possible for qualified buyers. Dont wait! (id:56071)

Appliances:  Water Heater, Range, Refrigerator, Stove, Washer
Features:  Lighting, In-Law Suite
Rental Equipment:  
Directions:  Dundas St & Spruce St; Take Dundas St East or West to Spruce St; Head South on Spruce St; Property on East Side of Spruce St
Zoning Description:  R2-3
Community Features:  School Bus, Community Centre
Lot:  40 x 233 FT|under 1/2 acre 40 x 233 FT
Exterior Finish:  Vinyl siding
Water:  Municipal water, Sanitary sewer
Heating / Cooling:   Electric / Central air conditioning
Age: 
Foundation: Block, Slab
Basement:  N/A (Unfinished) Unfinished

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