For Sale: 376 Richmond Street, London, ON - REW
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$6,600,000
23 bd • 23 ba • 5000 - 99999 sf • Multifamily
376 Richmond Street
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$6,600,000
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376 Richmond StreetLondon, ON, N6A 3C7

Central London
  • 23 Bed
  • 23 Bath
  • 5000 - 99999 Sqft
  • Multifamily

About this home

Rare chance to acquire a fully repositioned, 23-unit mixed-use loft building in the heart of downtown London with assumable financing available. 376 Richmond Street is a concrete-frame, three-storey building fully converted in 2025, offering a diverse unit mix of studios, one-bedrooms, and one-bedroom-plus-dens, with electricity and water sub-metered directly to tenants, dramatically reducing landlord utility exposure. The property is financed under CMHC MLI Select Level 3 with a 50-year amortization, providing a buyer with long-term, low-cost debt and a clear decision point at mortgage maturity in 2030, at which point the buyer can maintain CMHC financing or exit the covenant and bring all units to market rent. The ground-floor commercial space presents a compelling boutique gym or premium fitness conversion opportunity, with downtown London's growing professional tenant base supporting above-average retail rents. In-place NOI of $311,093 grows to a market-stabilized $425,577 as below-market leases roll over on unit turnover. A fully optimized asset, including unit turnover, gym conversion, and covenant exit, represents a great value add strategy. (id:63626)
Listed by: JEFF WYBO, Sales Representative, THE AGENCY REAL ESTATE

Home facts and features

Price details
List Price
$6,600,000
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Gross Taxes for 2025
$45,796
Home facts
Bedrooms
23
Full Bathrooms
23
Parking Details
No Garage
Property Type
Multifamily
Depth
100 feet
Frontage
44.9 feet
Exterior Finish
Concrete
Heating Type
Forced air, Natural gas
Community
Agent details
Primary Agent
JEFF WYBO
Primary Broker
THE AGENCY REAL ESTATE
Secondary Agent
MAZEN JOUKHAJI
Secondary Broker
THE AGENCY REAL ESTATE
Listing details
Days on REW
5 Days
MLS® Number
X13451376
Source
Canadian Real Estate Association
Board
London and St. Thomas Association of REALTORS®
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25 Years
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Property Insights

London Central Secondary School
  • Public
  • 9 - 12
Catholic Central High School
  • Catholic
  • 9 - 12
H B Beal Secondary School
  • Public
  • 9 - 12
St. John French Immersion School
  • Catholic
  • JK - 8
Victoria Public School
  • Public
  • JK - 8
St Martin School
  • Catholic
  • JK - 8
Jeanne-Sauvé Public School
  • Public
  • K - 8
Aberdeen Public School
  • Public
  • JK - 8
London South Collegiate Institute
  • Public
  • 9 - 12
Tecumseh Public School
  • Public
  • JK - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Sales Representative
JEFF WYBO
Phone:
(519) 472-0990
Cell:
226-268-3647
Office:
519-472-0990
Salesperson
MAZEN JOUKHAJI
Office:
519-472-0990
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