London, ON N5W4N7 354 SPRUCE Street

$664,499

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Presented By: EXP REALTY
  • MLS# 40721396
  • 04/24/2025
  • Request Tour
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  • Beds • 3
  • Baths • 3
  • SQFT • 1,390

Home Details

Situated on a beautiful quiet treed street, sits this newly renovated historic charmer multi-unit property. The second story addition of a new upper legal unit was just completed with building permit in 2023. Application is also submitted to fully legalize the garden suite unit and assurances can be provided by Seller to ensure this gets legalized for new Buyer. This is the perfect owner occupy mortgage helper, multi-generational home or turnkey investment property (over $66,000 in annual rent income currently).Top to bottom, nearly everything has been redone — from new luxury vinyl plank floors throughout, new roofs, a new on demand high efficiency hot water heater system, new plumbing and electrical throughout, energy efficient windows, brand new kitchens (with gas stoves), brand new redone bathrooms with luxury tile, stainless steel appliances, and a brand new heat pump / AC system to be installed prior to closing. This is not one to miss, such a unique property with all these features rarely comes on the market. Presently the main level three bedroom unit is rented at $2074 a month; the upper unit is rented at $1400 a month (effective as of March 15th, 2025) and the garden suite unit is rented at $1529 a month; with the tenants covering all the properties utilities, with only the manageble gas bill being the owner's responsibility presently. As a bonus a contract is in place to lease the space in the basement until end of 2025 brining in an additional $640 montly. This property is at an 8%+ Cap Rate at asking price! (id:7434)
Presented By: EXP REALTY

Interior Features for 354 SPRUCE Street

Other Interior Features

Basement DevelopmentUnfinished
Basement TypeFull (Unfinished)
Building Fireplace PresentFalse
Building Heating FuelElectric, Natural gas
Building Heating TypeBaseboard heaters, Forced air
Construction MaterialConcrete block, Concrete Walls

General for 354 SPRUCE Street

AmenitiesAirport, Hospital, Park, Place of Worship, Playground, Public Transit, Schools, Shopping
Building Cooling TypeNone
Building TypeTriplex
Building.StoriesTotal2
Community FeaturesCommunity Centre, School Bus
FeaturesCrushed stone driveway
Foundation TypeBlock
Location DescriptionTake Dundas Street East or West to Spruce Street; Head South on Spruce Street; Property on East Side of Spruce Street
Ownership TypeFreehold
Parking Space Total3
Property TypeMulti-family
Zoning DescriptionR2-3

Exterior for 354 SPRUCE Street

Exterior FinishConcrete, Vinyl siding
Fence TypeFence
Land Amenities Airport, Hospital, Park, Place of Worship, Playground, Public Transit, Schools, Shopping
SewerMunicipal sewage system

Additional Details

Paul Dojcinovic

TEAM LEADER, REALTOR® at eXp Realty
Price $664,499
MLS#40721396
List Date 04/24/2025
Property Type Multi-Family
Phone 403.608.2191
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