1 Rathgar Street, London, ON N5Z 1Y3 - MLS#40711264

Key Details

Property Type Multi-Family

Sub Type Duplex Side/Side

Listing Status Active

Purchase Type For Sale

Square Footage 1,505 sqft

Price per Sqft $205

MLS Listing ID 40711264

Bedrooms 5

Abv Grd Liv Area 1,505

Year Built 1909

Annual Tax Amount $2,564

Lot Size 2,657 Sqft

Acres 0.061

Property Sub-Type Duplex Side/Side

Source Waterloo Region

Property Description

1 Rathgar Street is a very large side by side legal duplex with seperately metered hydro to each unit and previously held a rental license. This property 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! 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. 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

Area East

Zoning R2-2

Direction From Adelaide St N take Little Simcoe St going Eastbound; Take Rathgar St going Southbound; Property at end of Rathgar St on West side (corner lot at Rathgar St & Little Grey St)

Rooms

Basement Separate Entrance,Walk-Out Access,Partial,Unfinished

Kitchen 0

Interior

Interior Features Accessory Apartment,Separate Hydro Meters,Other

Heating Forced Air,Natural Gas

Cooling Central Air

Fireplace No

Appliance Stove

Laundry None

Exterior

Exterior Feature Private Entrance,Separate Hydro Meters,Year Round Living

Fence Full

Roof Type Asphalt Shing

Street Surface Paved

Lot Frontage 29.42

Lot Depth 91.33

Garage No

Building

Lot Description Rectangular,Business Centre,City Lot,Highway Access,Hospital,Industrial Park,Library,Major Anchor,Park,Place of Worship,Playground Nearby,Public Transit,Rec./Community Centre,School Bus Route,Schools,Shopping Nearby,Other

Faces From Adelaide St N take Little Simcoe St going Eastbound; Take Rathgar St going Southbound; Property at end of Rathgar St on West side (corner lot at Rathgar St & Little Grey St)

Story 1.5

Foundation Concrete Block

Sewer Sewer (Municipal)

Water Municipal

Structure Type Vinyl Siding

New Construction No

Schools

Elementary Schools Aberdeen Public School; St. Bernadette Catholic Elementary School

High Schools Central Ss; Hb Beal Ss; Catholic Central Hs

Others

Senior Community No

Tax ID 083090035

Ownership Freehold/None