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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. This is the perfect owner occupy mortgage helper, multi-generational home or turnkey investment property (over $62,000 annual rent income possible). Presently the main level three bedroom unit is rented at $2074 a month plus utilities; and $1529 for the garden suite inclusive of utilities. There is a rare detatched coach house tucked away in the backyard that provides the perfect work-from-home studio location you have been searching for or just additional income! Currently the upper spacious studio unit is vacant making this a perfect mortage helper property for the owner to reside in one unit and collect rental income from the other two units. 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. Seller financing / vendor take back option to aid in the process of downpayment possible for qualified buyers. Dont wait!
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Listing History
List Date | End Date | Days Listed | List Price | Sold Price | Status |
---|---|---|---|---|---|
2023-09-13 | 2024-01-17 | 126 | $739,900 | - | Terminated |
2023-09-13 | 2024-01-17 | 126 | $739,900 | - | Suspended |
Property Features
Park, Place Of Worship, Public Transit, Rec Centre, School, School Bus Route
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Property Details
Street
Community
City
Property Type
Triplex, 2-Storey
Approximate Sq.Ft.
1100-1500
Lot Size
40' x 233'
Acreage
< .50
Fronting
East
Taxes
$2,485 (2023)
Basement
Unfinished, Walk-Up
Exterior
Vinyl Siding
Heat Type
Baseboard
Heat Source
Electric
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
3
Driveway
Front Yard
Garage Type
None
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London Market Statistics
London Price Trend
354 Spruce St is a 5-bedroom 3-bathroom home listed for sale at $688,884, which is $35,258 (4.9%) lower than the average sold price of $724,142 in the last 30 days (October 21 - November 19). During the last 30 days the average sold price for a 5 bedroom home in London declined by $111,170 (13.3%) compared to the previous 30 day period (September 21 - October 20) and down $380,858 (34.5%) from the same time one year ago.Inventory Change
There were 13 5-bedroom homes listed in London over the last 30 days (October 21 - November 19), which is down 23.5% compared with the previous 30 day period (September 21 - October 20) and up 160.0% compared with the same period last year.Sold Price Above/Below Asking ($)
5-bedroom homes in London typically sold ($43,485) (6.0%) below asking price over the last 30 days (October 21 - November 19), which represents a $8,210 decrease compared to the previous 30 day period (September 21 - October 20) and ($164,000) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 5-bedroom homes in London over the last 30 days (October 21 - November 19) stood at 53.8%, up from 47.1% over the previous 30 days (September 21 - October 20) and up from 20.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 5-bedroom 3-bathroom home in London stood at 51 days when successfully sold over the last 30 days (October 21 - November 19), compared to 64 days before being removed from the market upon being suspended or terminated.Listing contracted with Exp Realty
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