$ 688,800
-
$688,800
Price -
5
Bed -
3
Bath -
1,100
SqFt
NEW! Buy and sell safely with virtual options - Learn More
About the Listing 285427 -
On a beautiful quiet treed street, sits this newly renovated historic charmer multi-unit property; only a street over from the beautiful spacious Kiwanis park. The location is also good for transit access and proximity to all neccessary services. A perfect oppurtunity awaits a new homeowner for an ideal mortgage helper situation as the garden suite ADU unit that sits independent of the main structure duplex is set to be vacant for September 1st, 2025. The second story addition of a new upper legal unit was just completed with building permit in 2023. This is the perfect owner occupy mortgage helper, multi-generational home or turnkey investment property with nearly $64,000 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, and stainless steel appliances. 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 $2399 a month (with new lease signed to existing tenants as of June 1st, 2025); the upper unit is rented at $1400 a month (effective as of March 15th, 2025) and the garden suite unit is currently rented at $1529 a month, however will be vacant as of September 1st, 2025 through natural turnover from a tenant that loved their time in this location. This property operating at a 8%+ Cap Rate at asking price!
Listing Highlights for 354 Spruce St
Status
Active
Days on Site
89
Property Type
Multi-Family
MLS ®
X12219905
Year Built
Total Square Footage
1,100
Lot/Acreage
0.22
Interior Details
- Bedrooms: 5
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Unfinished,Walk-Up
- Other: Accessory Apartment,In-Law Suite,Primary Bedroom - Main Floor,Upgraded Insulation,Separate Heating Controls,Ventilation System
- Water:
Exterior Details
- Garage Capacity: N/A
- Roof: Asphalt Shingle
- Others: Deck,Patio,Porch,Year Round Living,Recreational Area
- Sewer: Sewer
- Parking Features: Front Yard Parking,Private
Financial Details
- Tax Amount: $2,374
- Taxes w/Assessments: N/A
- Tax/Property ID: 081120194
- Tax Year: 2024
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Listing Location
Questions About..
354 Spruce St London East, ON N5W 4N7
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of
