Sagheer Chattha
519-694-1850

Property Details

376 RICHMOND STREET, London East (east K), Ontario, N6A3C7

376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376)
Representative
Sagheer Chattha

RE/MAX Centre City Realty Inc., Brokerage - London*
Cell: Sagheer: 519-694-1850 | Pal:519-619-9497
Tel: 519- 667-1800
376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376) 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7 (ID X13451376)

$6,600,000 - For sale

ID#:X13451376

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. (id:2471)

Location DescriptionRichmond Street and King Street

Property Details
  • Property Address:376 RICHMOND STREET, London East (east K), Ontario, N6A3C7
  • Property Type:Multi-family
  • Community Name:East K
  • Lot Size:44.8 x 100 FT ; 109.99 ft x 44.79 ft x 99.86 ft x 4.88
  • Sewage Type:Sanitary sewer
  • Water Type:Municipal water
  • Driveway:No Garage
Structure Details for 376 RICHMOND STREET, London East (east K), Ontario, N6A3C7
  • Structure Style:Other
  • Bedrooms:23
  • Bathrooms:23
  • Floor Space:5000 - 100000 sqft
  • Heating Type:Natural gas, Forced air
  • Storeys:3
  • Basement Type:None
  • Foundation Type:Concrete
  • Cooling Type:None
  • Exterior Type:Concrete
Representative
Sagheer Chattha
Real Estate Broker ABR®️, SRS
RE/MAX Centre City Realty Inc., Brokerage - London*
Cell: Sagheer: 519-694-1850 | Pal:519-619-9497
Tel: 519- 667-1800
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376 RICHMOND STREET, London East (east K), Ontario, N6A3C7

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