1 Rathgar Street is a very large side by side legal duplex with seperately metered hydro to each unit and previously held a rental license. This property is being offered as the lowest priced duplex in London by a margin of almost a hundred thousand dollars at the point of this listing! Oppurtunity knocks, its calling the right buyer to add ample upside through a full renovation of the interior with high rent potential. This would make for a suitable purchase for a seasoned investor, ambitious first time investor or skilled tradesperson. The majority of above ground square footage is on the ground level, with a lofted upper level in both units. Both units feature seperate entrances and one unit has a full back yard access as well. For those open to the consideration that this property needs ample renovation of the full interior (and possible exterior work); the oppurtunity exists as a solid dual income rental property or for someone looking for income offset potential, looking to live in one unit and use the rent from the other unit to help pay down the mortgage. The location situates this property close to the downtown core, near to many elementary, secondary and specialized schools, offers access to public transist routes, and is in close proximity to hospitals. Because of the nature of this sale and the property being in need of a lot of loving attention to bring forward its best and since the current owner has never resided in the subject property, it is being sold in "as is/ where is" condition, where the property will not be sold with any warrenties. Presently the property has occupants that were in place as a carry over from the previous sale (not tenants and there is no active or previous lease in place or any rent arrangement past or present and have made no payments to current owners for residing in property). Sellers are working to negotiate vacant possession; however preference is for Buyer's to take on current situation.
Property Type:
Residential Income
Property SubType:
Duplex Side/Side
Year built:
1909
(Age: 116)
Listing General Location:
East L, East
Bedrooms:
5
Bathrooms:
2.0
(Full:-/Half:-)
Lot Size:
2,657 sq. ft.247 m2
Lot Details:
91.33 x 29.42
Lot Depth:
91'4"27.8 m
Lot Frontage:
29'5"8.97 m
Frontage Type:
West
Lot Shape:
91.33 ft x 28.69 ft x 91.26 ft x 29.46 ft
Kitchens:
0
Elementary School:
Aberdeen Public School; St. Bernadette Catholic Elementary School
Crops Included: No, Garage: No, Inspection ESA: No, Inspection Fire: No, New Construction: No
Construction:
Vinyl Siding
Basement:
Separate Entrance, Walk-Out Access, Partial, Unfinished
Foundation:
Concrete Block
Roof:
Asphalt Shing
Number of Storeys:
1
Number of Buildings:
0
Total Floor Area:
1,505 sq. ft.140 m2
Finished Area Above Grade:
1,505 sq. ft.140 m2
Fireplace:
false
Laundry Features:
None
Water Supply:
Municipal
Water Meter:
Yes
Sewer:
Sewer (Municipal)
Cooling:
Central Air
Heating:
Forced Air, Natural Gas
None,None
Stove
Occupants Belongings
Accessory Apartment, Separate Hydro Meters, Other
Private Entrance, Separate Hydro Meters, Year Round Living
false
No
From Adelaide St N take Little Simcoe St going Eastbound; Take Rathgar St going Southbound; Property at end of Rathgar St on West side (corner lot at Rathgar St & Little Grey St)
Rectangular, Business Centre, City Lot, Highway Access, Hospital, Industrial Park, Library, Major Anchor, Park, Place of Worship, Playground Nearby, Public Transit, Rec./Community Centre, School Bus Route, Schools, Shopping Nearby, Other
Features:
Crops Included: No, Garage: No, Inspection ESA: No, Inspection Fire: No, New Construction: No