Real Estate Property Details

206 CENTRAL Avenue, London, Ontario, N6A1M7

206 CENTRAL Avenue, London, Ontario, N6A1M7 (ID 40247948)
Representative
Carol Turnbull portrait
Carol Turnbull
Sales Representative
RE/MAX Centre City Realty Inc., Brokerage - London*
Tel: 519-439-2233

$2,499,000 - For sale

ID#:40247948

FABULOUS PROPERTY ON RICHMOND ROW. ANCHOR TENANT ON MAIN LEVEL IS BURRITO BOYZ. 4 LUXURY APARTMENTS WITH 11 BEDROOMS IN TOTAL. HIGH END LUXURY FINISHES. ASSUMABLE MORTGAGE OF $1,248,000, @ 3.99% TILL NOVEMBER 2025. LOCATED JUST STEPS OFF RICHMOND, WEST ON CENTRAL WITH LOTS OF PARKING IN THE BACK. RARE OPPORTUNITY TO OWN A LUXURY BUILDING IN THE HEART OF RICHMOND ROW. GROSS INCOME OVER $160.000 A YEAR. BURRITO BOYZ HAVE SIGNED A NEW FIVE YEAR LEASE WITH A FURTHER FIVE YEAR OPTION. LAMINATE FLOORS. CERAMIC, QUARTZ COUNTERTOPS. ALL STAINLESS STEEL APPLIANCES. 4 BEDROOM UNITS HAVE 2 FULL BATHS. CONTROLLED ENTRY. RENTAL INFORMATION AND EXPENSES IN DOCUMENT.BURRITO BOYZ CURRENT RENT $3,245 A MONTH=$38,940/YEAR. JUNE 1,2023 INCREASES TO $3,595/MONTH=$43,140/YEAR. JUNE 1,2028 INCREASES $3.975./MONTH=$47.700/YEAR PLUS THEY PAY THEIR SHARE OF PROPERTY TAXES. WITH $400,000 DOWN, SELLER WILL DO A ONE YEAR VTB @ 3.9% INTEREST ONLY FOR THE BALANCE BETWEEN THE FIRST MORTGAGE AND THE PURCHASE PRICE. VENDOR IS RETIRING. (id:2471)

Location DescriptionCENTRAL AVE JUST WEST OF RICHMOND. HEART OF RICHMOND ROW.

Property Details
  • Property Address:206 CENTRAL Avenue, London, Ontario, N6A1M7
  • Property Type:Multi-family
  • Title:Freehold
  • Acreage:under 1/2 acre
  • Sewage Type:Municipal sewage system
  • Water Type:Municipal water
Structure Details for 206 CENTRAL Avenue, London, Ontario, N6A1M7
  • Bedrooms:11
  • Bathrooms:7
  • Floor Space:3506
  • Heating Type:Electric, Natural gas, Baseboard heaters, Forced air
  • Style:Detached
  • Storeys:3
  • Basement Type:Partial (Finished)
  • Cooling Type:Central air conditioning
  • Appliances Included:Microwave
  • Exterior Type:Stucco
Amenities for 206 CENTRAL Avenue, London, Ontario, N6A1M7 Park/reserve, Paved driveway, High Traffic Area
  • Amenities Nearby:Park, Public Transit, Shopping
Representative
Carol Turnbull portrait
Carol Turnbull
Sales Representative
RE/MAX Centre City Realty Inc., Brokerage - London*
Tel: 519-439-2233
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Listing Office: SUTTON GROUP - SELECT REALTY INC., BROKERAGE

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206 CENTRAL Avenue, London, Ontario, N6A1M7

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