206 Central Avenue London, Ontario N6A 1M7
$2,450,000
Fabulous property on Richmond Row. Anchor property on main level. Burrito Boyz. 4 luxury apartments 11 bedrooms in total. High end luxury finishes. Assumable mortgage of $1,248,000. VENDOR WILL HOLD A SECOND MORTGAGE FOR $500,000 AT 3%. Located just steps off Richmond, west on Central Ave. Rare opportunity to own a luxury building in the heart of Richmond Row. Gross income over $158,000.00 a year. Burrito Boyz signed a 5 year lease plus 5 year option. Laminate floors, ceramic, quartz countertops. All stainless steel appliances. 4 bedroom units have 2 full baths. 3 fireplaces. Ample parking. Burrito Boys Current Rent: $3,245/Month = $38,940/Year. June 1, 2023 Increase: $3,595/Month = $43,140/Year. June 1, 2028 Increase: $3,975/Month = $47,700/Year. Plus their share of taxes. Current commercial lease runs until 2028 with an additional 5 year option to 2033. (id:29438)
Property Details
| MLS® Number | 40185626 |
| Property Type | Multi-family |
| Amenities Near By | Park, Public Transit, Shopping |
| Communication Type | High Speed Internet |
| Community Features | High Traffic Area |
| Features | Park/reserve, Paved Driveway |
| Parking Space Total | 9 |
Building
| Bedrooms Total | 7 |
| Appliances | Microwave |
| Basement Development | Finished |
| Basement Type | Partial (finished) |
| Construction Style Attachment | Detached |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Stucco |
| Fire Protection | Smoke Detectors |
| Fireplace Fuel | Electric |
| Fireplace Present | Yes |
| Fireplace Total | 4 |
| Fireplace Type | Other - See Remarks |
| Heating Fuel | Electric, Natural Gas |
| Heating Type | Baseboard Heaters, Forced Air |
| Stories Total | 3 |
| Size Interior | 3506 |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Park, Public Transit, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 111 Ft |
| Size Frontage | 45 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Bus District Commercial |
Utilities
| DSL* | Available |
| Electricity | Available |
| Natural Gas | Available |
https://www.realtor.ca/real-estate/23813658/206-central-avenue-london
Interested in this property?
Claudio Baiocchi, REALTOR®
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
November 29 2021 05:19:32
London and St. Thomas Association of REALTORS®
Sutton Group - Select Realty Inc., Brokerage
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