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Jackie Van Der Heyden

jackie.heyden@engelvoelkers.com +1(226) 507-0660

Listed by Nathan Blanco • EXP REALTY

$ 664,499

Est. payment -/mo

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354 Spruce Street London, ON N5W 4N7

3 Beds

3 Baths

1,390 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-3 Unit

Listing Status Active

Purchase Type For Sale

Square Footage 1,390 sqft

Price per Sqft $478

MLS Listing ID 40721396

Bedrooms 3

Abv Grd Liv Area 1,390

Originating Board Waterloo Region

Year Built 1910

Annual Tax Amount $5,002

Property Sub-Type Multi-3 Unit

Property Description

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!

Location

Province ON

County Middlesex

Area East

Zoning R2-3

Direction Take Dundas Street East or West to Spruce Street; Head South on Spruce Street; Property on East Side of Spruce Street

Rooms

Other Rooms Other

Basement Walk-Up Access, Full, Unfinished

Kitchen 0

Interior

Interior Features Accessory Apartment

Heating Baseboard, Electric, Forced Air, Natural Gas

Cooling None

Fireplace No

Appliance Instant Hot Water, Dryer, Refrigerator, Stove, Washer

Laundry In-Suite

Exterior

Exterior Feature Balcony, Landscape Lighting, Lighting, Private Entrance, Year Round Living

Parking Features Gravel

Fence Full

Waterfront Description Access to Water

Roof Type Asphalt Shing

Street Surface Paved

Porch Deck, Patio

Lot Frontage 40.0

Lot Depth 233.0

Garage No

Building

Lot Description Rectangular, Airport, Ample Parking, Business Centre, Dog Park, City Lot, Hospital, Library, Open Spaces, Park, Place of Worship, Playground Nearby, Public Transit, Rec./Community Centre, Regional Mall, School Bus Route, Schools, Shopping Nearby, Trails

Faces Take Dundas Street East or West to Spruce Street; Head South on Spruce Street; Property on East Side of Spruce Street

Story 2

Foundation Concrete Block, Slab

Sewer Sewer (Municipal)

Water Municipal

Structure Type Block,Vinyl Siding

New Construction No

Schools

Elementary Schools Prince Charles Public School; St.Pius X Catholic Elementary School; London Christian Elementary School

High Schools Clarke Road Secondary School; Catholic Central High School

Others

Senior Community No

Tax ID 081120194

Ownership Freehold/None

Virtual Tour https://view.ricoh360.com/d108407f-f9ef-4da7-9f99-c4942f28aa77

Jackie Van Der Heyden

Advisor | License ID: 5008946

+1(226) 507-0660

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