More Photos

×

    For Sale - 376 Richmond Street, London East, Ontario

    Est payment $31,693/mo
    Get pre-qualified
    Views   2
    Time on Jump  20 day

    AI Summary *

    • Fully repositioned 23-unit mixed-use loft building in downtown London.
    • Diverse unit mix with studios and one-bedroom options for various tenants.
    • Sub-metered utilities help reduce landlord exposure significantly.
    • Ground-floor space ideal for a boutique gym or fitness studio.
    • Strong potential for increased NOI as leases turn over.




    Rare chance to acquire a fully repositioned, 23-unit mixed-use loft building in the heart of downtown london with assumable financing available. 376 richmond street is a concrete-frame, three-storey building fully converted in 2025, offering a diverse unit mix of studios, one-bedrooms, and one-bedroom-plus-dens, with electricity and water sub-metered directly to tenants, dramatically reducing landlord utility exposure. The property is financed under cmhc mli select level 3 with a 50-year amortization, providing a buyer with long-term, low-cost debt and a clear decision point at mortgage maturity in 2030, at which point the buyer can maintain cmhc financing or exit the covenant and bring all units to market rent. The ground-floor commercial space presents a compelling boutique gym or premium fitness conversion opportunity, with downtown london's growing professional tenant base supporting above-average retail rents. In-place noi of $311,093 grows to a market-stabilized $425,577 as below-market leases roll over on unit turnover. A fully optimized asset, including unit turnover, gym conversion, and covenant exit, represents a great value add strategy.
    Listing IDX13451376
    Address376 Richmond Street
    CityLondon East, Ontario
    Price$6,600,000
    Bed / Bath23 / 23 Full
    Style3-Storey, Multiplex
    ConstructionConcrete, Other
    TypeMulti-Family
    StatusFor Sale

    Subtype MultiplexIndoor Features NoneOwnership FreeholdWaterfront NoneBasement NoneFoundation ConcreteHeating / Cooling Forced AirHeating Fuel GasSewer Sewer

    ASAP

    Wed

    8

    Jul

    Thu

    9

    Jul

    Fri

    10

    Jul

    Sat

    11

    Jul

    Sun

    12

    Jul

    Mon

    13

    Jul

    Tue

    14

    Jul

    Wed

    15

    Jul

    Thu

    16

    Jul

    Fri

    17

    Jul

    Sat

    18

    Jul

    Sun

    19

    Jul

    Mon

    20

    Jul

    Tue

    21

    Jul

    Wed

    22

    Jul

    Thu

    23

    Jul

    Fri

    24

    Jul

    Sat

    25

    Jul

    Sun

    26

    Jul

    Mon

    27

    Jul

    Tue

    28

    Jul

    Wed

    29

    Jul

    Thu

    30

    Jul

    Fri

    31

    Jul

    Sat

    1

    Aug

    Sun

    2

    Aug

    Mon

    3

    Aug

    Tue

    4

    Aug

    Wed

    5

    Aug

    By clicking “Get pre-qualified” and/or 'Submit' you are expressly consenting, in writing, to receive telemarketing and other messages, including artificial or prerecorded voices, via automated calls or texts from jumprealty.ca and up.mortgages at the number you provided above. This consent is not required to purchase any good or service. Message and data rates may apply, frequency varies. Text HELP for help or STOP to cancel. More details in Terms of Use and Privacy Policy.

    Listing Agency:  THE AGENCY REAL ESTATE

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

    Hospital
    Parks
    Schools
    Place of Worship
    Please select an amenity above to view a list.

    Recommended Properties

    299 Spring Street
    Cobourg, Ontario.
    3 Beds | 3 Baths
    $689,000
    Lot 00 Stan Street
    North Stormont, Ontario.
    3 Beds | 2 Baths
    $561,062
    190 Lakeshore Road
    Brighton, Ontario.
    6 Beds | 5 Baths
    $1,499,900
    302 Quin Mo Lac Road Unit# …
    Centre Hastings, Ontario.
    1 Beds | 1 Baths
    $95,000
    60 Brookfield Court
    Brampton, Ontario.
    6 Beds | 4 Baths
    $1,079,000
    7 Arch Road
    Mississauga, Ontario.
    6 Beds | 5 Baths
    $1,849,000
    100 Laclie Street
    Orillia, Ontario.
    3 Beds | 2 Baths
    $629,900
    38 Carriage Lane
    Puslinch, Ontario.
    4 Beds | 4 Baths
    $2,499,000
    156 Goldenwood Crescent
    Markham, Ontario.
    4 Beds | 4 Baths
    $1,200,000
    Loading...
    376 Richmond Street
    London East , Ontario
    23 23 $6,600,000
    Get more info