5
See all 5 photos
$309,900
Est. payment /mo
5 Beds
2 Baths
Pending
1 Rathgar ST London East, ON N5Z 1Y3
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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 being offered as the lowest priced duplex in London by a margin of almost a hundred thousand dollars at the point of this listing! This legal side by side duplex near London's core features a three bed and two bed unit. 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. Securing this property comes with plenty of value add and cash flow possible. 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
Lited by EXP REALTY