ON > London East > East L
London East, ON N5Z 1Y3,1 Rathgar ST
London East, ON N5Z 1Y3,1 Rathgar ST
London East, ON N5Z 1Y3,1 Rathgar ST
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Gail Reeves Reid

Gail Reeves Reid

+1(416) 540-8681
$349,900
Est. payment /mo
4 Beds
2 Baths
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 1500-2000

Subdivision East L

MLS Listing ID X12527174

Style 1 1/2 Storey

Bedrooms 4

Annual Tax Amount $2,733

Tax Year 2025

Property Sub-Type Duplex

Lot Depth 91.33

Lot Front 29.42

Appx SqFt 1500-2000

Property Description

This legal side-by-side 1.5 story duplex near London's core features a separately metered very spacious split level two bed unit with basement and a main level one bed unit. Opportunity knocks, it's calling the right buyer with high rent potential ($3,400+/month for both units [$2,000 for Unit 1B - split level three bedroom unit with unfinished basement and $1,400 for Unit 1A - main level one bedroom unit; each with their own parking space]; even more for a Buyer that opts to add an additional unit). This is a very large duplex, one of the larger ones in the area, above ground square footage on ground level and a lofted upper level in both units, along with unfinished basement space offering lots of development potential. Both units feature seperate entrances and one unit also has backyard access. 1 Rathgar Street is a solid dual income rental property or well suited for an individual, couple or family looking for income offset potential to live in one unit and use the rental inome to help pay down the mortgage. Clear height of the basement throughout the majority of basement is around 6'5"; making it viable for additional finished space or possibly a future third unit incorporating part of the main level. With the addition of a third unit rent potential could be truly maximized (with $4,300+/month [$1,700/month for modified Unit 1B - split level two bedroom unit , $1400/month for Unit 1A - main level one bedroom unit; and $1,200/month for newly added "Unit 1C" main and lower level studio unit, each with their own parking space]). Consideration for adding additional unit(s) will be at the discretion of the Buyer and entirely up to their due diligence. Property is being sold "as is/ where is" without any warranties from the Seller. Property is now being offered with vacant possession. Kitchen appliances to be added. This property is close to the downtown core, near to many schools, offers access to ample public transit routes, and is in close proximity to hospitals.

Location

Province ON

County Middlesex

Community East L

Area Middlesex

Zoning R2-2

Rooms

Family Room No

Basement Unfinished, Full

Kitchen 2

Interior

Interior Features Accessory Apartment, Water Meter, Separate Hydro Meter, Primary Bedroom - Main Floor, On Demand Water Heater

Cooling None

Inclusions 2 Stoves, 2 Fridges, 2 Washers

Exterior

Parking Features Private Double

Pool None

Roof Type Asphalt Shingle

Lot Frontage 29.42

Lot Depth 91.33

Total Parking Spaces 2

Building

Building Age 100+

Foundation Concrete Block

Others

Senior Community No

ParcelsYN Yes

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Listed by EXP REALTY

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Gail Reeves Reid

Gail Reeves Reid

+1(416) 540-8681

Broker | License ID: 9520476

Broker License ID: 9520476

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