354 Spruce Street, London

Situated on a beautiful quiet treed street, sits this newly renovated historic charmer multi-unit property offering three total rental units. The second story addition of a new upper legal unit was just completed with building permit in 2023. This is the perfect turnkey investment property (around $62,000 of annual rent income possible). Presently the main level three bedroom unit is rented at $2074 a month plus utilities; and Upper unit just rented at $1400 plus inclusive of utilities (effective as of March 15th, 2025) and $1529 a month for the garden suite inclusive of utilities. 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 furnace in 2024 for the main duplex property, new plumbing and electrical throughout, energy efficient windows, brand new kitchens (with gas stoves), brand new redone bathrooms with luxury tile, and stainless steel appliances. Seller has submitted application with plans and made payments to legalize garden suite ADU unit as fully legal unit with the City of London. New buyer can take over property and process to complete legalization. With increased possibilities with residential properties being allowed up to a total of four residential units in the City of London, it is possible that with the large lot sixe and dpeth of over 250 feet on the lot; the future potential to add an additional ADU (additional dwelling unit) on the property could be possible. This is not one to miss, such a unique property with all these features rarely comes on the market.