$999,900
342 RICHMOND STREET
Beds
—
Baths
—
Sqft
5,200
Year
—
Type
Retail
Suite
Investment signal
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for London East (East K). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
Prime investment opportunity in the heart of Downtown London! Welcome to 342 Richmond Street, a fully tenanted mixed-use commercial building that perfectly blends income-generating potential with modern upgrades. Featuring an established ground-level storefront and five beautifully renovated residential units, three spacious 2-bedroom, 1-bathroom apartments and two cozy 1-bedroom, 1-bathroom units, this property is designed to attract quality tenants. Each residential unit showcases updated finishes, ensuring long-term tenant satisfaction, while the convenience of on-site laundry adds extra appeal. Recent improvements include a brand-new roof, offering peace of mind for years to come. With a stellar net operating income of $111,000 annually and a high-demand location amidst Londons bustling core, this property is a rare find. Just steps from trendy shops, dining, and cultural landmarks, this property offers an exceptional opportunity to own a turnkey asset in a thriving urban center. Don't miss your chance to capitalize on this premium downtown cash cow! (id:65958)
- Subtype
- Retail
- Structure
- Residential Commercial Mix
- Community
- East K
- Living area
- 5,200 square feet
- Lot dimensions
- Bldg=18 x 97 FT
- On market
- Apr 28, 2026
- Status changed
- Apr 28, 2026
- Annual tax
- $8,169.79
- Zoning
- DA1
- Photos
- 39
- MLS#
- X13054230
- Area
- LONDON_EAST_(EAST_K)
Features and systems
Heating
Cooling
Cash on cash
-6.55%
Cap rate
3.55%
GRM
16.7
Break-even rent
$6,149
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for London East (East K). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 28, 2026.