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BEDROOMS 3
BATHROOMS 3
KITCHENS 15 + 1
ROOMS X14105012
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Property Description
Situated on a beautiful quiet treed street, sits this renovated historic charmer multi-unit property. The second story addition of a new upper legal unit was just completed with building permit in 2023; and also includes a stand alone garden suite unit. This property is being offered fully vacant to offer the most flexibility for the Buyer. This is the perfect owner occupy mortgage helper, multi-generational home or turnkey investment property (over $66,000 in annual rent income when last occupied; through organic turnover all three units have become vacant over the past few months and have been left vacant to provide the most flexibility to the Buyer).Top to bottom, nearly everything has been redone under current ownership - from 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) and vent hoods, 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.
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Property Features
Public Transit, Rec./Commun.Centre, Fenced Yard, Park, School, School Bus Route, Accessory Apartment, In-Law Suite, Primary Bedroom - Main Floor, Upgraded Insulation, Separate Heating Controls, Ventilation System, Front Yard Parking, Private, Carbon Monoxide Detectors, Smoke Detector
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Property Details
Address
354 Spruce Street
Community
City
Postal Code
N5W 4N7
Property Type
Triplex, Triplex
Zoning
R2-3
Lot Size
40' x 235'
Acreage
0.2 Feet
Taxes
$2,085 (2025
Basement
Unfinished, Walk-Up
Exterior
Deck, Patio, Porch, Year Round Living, Recreational Area
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
3
Garage Type
None
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Listing contracted with Exp Realty
Exceptional Investment Opportunity - Legal Triplex with Strong Cash Flow & Future Upside! Own a fully legal two-storey triplex on a rare 37.09 ft x 168.63 ft lot in one of London's rapidly growing neighbourhoods. Certified by the City of London, this income-producing property offers immediate cash flow, low operating costs, and excellent long-term appreciation potential. Currently generating $3,289/month from the main floor ($1,689) and upper unit ($1,600 including parking), with only the basement unit remaining to be leased at $1,350/month, bringing the projected gross rental income to approximately $4,639/month ($55,668 annually). Property taxes are only $2,716/year, making this an attractive opportunity for investors. The impressive 168-foot-deep lot provides added privacy and future development potential, subject to municipal approvals. Ideally located with a bus stop at the doorstep and within walking distance to the Hard Rock Hotel, casino, restaurants, shopping, and entertainment district, this high-demand location continues to attract quality tenants. Major updates include a waterproofing membrane around the foundation (2021), interior drainage system, exterior painting, soundproofing between the main and upper floors, and a renovated main-floor kitchen (2022).Additional features include separate entrances, separate hydro meters, four parking spaces, coin-operated laundry for extra income, and a private tree-lined backyard with a paved patio and fire pit. Whether expanding your portfolio or purchasing your first investment property, this well-maintained legal triplex offers strong income, excellent upside, valuable updates, and outstanding long-term investment potential.
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Old East Village, well maintained triplex with long term tenants. Separate meters, ample parking with access to more parking in the rear. Updated electrical and plumbing, front concrete driveway replaced 2025. Opportunity for live-in with income.
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