Homes for sale - 1 Rathgar ST, London East, ON N5Z 1Y3

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Pending

Purchase Type For Sale

Approx. Sqft 1500-2000

Subdivision East L

MLS Listing ID X12046878

Style 1 1/2 Storey

Bedrooms 5

Building Age 100+

Annual Tax Amount $2,564

Tax Year 2024

Property Sub-Type Duplex

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.

Location

Province ON

County Middlesex

Community East L

Area Middlesex

Zoning R2-2

Rooms

Basement Unfinished,Partial Basement

Kitchen 2

Interior

Interior Features Accessory Apartment,Water Meter,Separate Hydro Meter

Cooling Central Air

Inclusions None

Exterior

Parking Features None

Pool None

Roof Type Asphalt Shingle

Total Parking Spaces 3

Building

Foundation Concrete Block

Others

ParcelsYN No