575 Ridout Street N London East (East F), ON

Well maintained 2.5 storey, 11 unit walk up apartment building in an established residential area close to downtown. Property Size: 0.25 acres. Official Plan: Multi-family, High Density Residential; Open Space. Development potential. Building consists of 11 - 1 bedroom, 1 bathroom units, all of similar size and layout. 8 units have been renovated and feature a dishwasher. There are 3 apartments on the lower level along with the laundry room and tenant storage and 4 units on each of the upper floors. 12 on site surface parking spots. Coin operated laundry on site, with 2 owned washers and dryers. Individual tenant storage lockers in the basement. Separate hydro meters. Current NOI: $120,842.64, Projected NOI: $157,005.00. Roof (TPO) replaced 2020. 2 Boilers with storage tanks for domestic hot water replaced approximately 10 years ago. Close proximity to the downtown core, the Thames River, walking trails and public transit. Zoning: R10-3*H30. (id:4555)