50 Ridout Street S London, Ontario N6C 3W6
$11,650,000
Once in a generation property A+ Asset for sale. This triple Brick 36 unit building (12 x 1+Den and 24 X 1 Bed) has Terazzo Floors, New roofs on all 3 buildings plus garage while backing onto the Thames river. Building lot line goes right to the river and comes with 4 full detached garages. A block from Wortley Village, 2 blocks from Downtown with bus stop outside. Building has always been fully tenanted and has a wait list. 52% of the building has been turned over with single professionals to market rents over the last 7 years. Building Nets 340k Annually with potential of well over 500k with Airbnb. Den size in 1+Dens are 7 X 6. Owner will carry a 10% vtb if required. (id:18082)
Property Details
| MLS® Number | 40239157 |
| Property Type | Multi-family |
| Communication Type | High Speed Internet |
| Equipment Type | None |
| Features | Southern Exposure, Paved Driveway, Laundry- Coin Operated |
| Parking Space Total | 28 |
| Rental Equipment Type | None |
Building
| Bathroom Total | 36 |
| Bedrooms Total | 36 |
| Basement Development | Unfinished |
| Basement Type | Partial (unfinished) |
| Constructed Date | 1940 |
| Construction Style Attachment | Detached |
| Cooling Type | None |
| Exterior Finish | Brick |
| Fire Protection | Alarm System |
| Heating Fuel | Natural Gas |
| Heating Type | Radiant Heat |
| Stories Total | 3 |
| Size Interior | 26000 |
| Utility Water | Municipal Water |
Parking
| Detached Garage |
Land
| Acreage | No |
| Sewer | Municipal Sewage System |
| Size Depth | 341 Ft |
| Size Frontage | 84 Ft |
| Size Total Text | 1/2 - 1.99 Acres |
| Zoning Description | R3-1 |
Utilities
| Electricity | Available |
| Natural Gas | Available |
https://www.realtor.ca/real-estate/24260758/50-ridout-street-s-london
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May 20 2022 07:05:42
London and St. Thomas Association of REALTORS®
Thrive Realty Group Inc.