FULLY VACANT, Mixed-Use, 2-Storey Brick, Commercial/Residential Building in London's Old East Village. BDC Zoning allowing plenty of uses. Excellent opportunity to invest in the future of a revitalized downtown London. Currently containing 2 commercial units (street level) previous office area, board room, 2-pc washroom, as well as a previous barbershop with open retail area, small office, and 2-pc washroom. Also 4 residential units (first and second levels), one (1) x bachelor and three (3) x 2-bedroom apartments, and an unfinished basement for storage and mechanical area. Approximately 3500 sqft on a massive 33 x 203 ft lot in Downtown London with a total of 6,729 sqft. This site has been approved by the City for the up to SIX (6) residential units. The Four (4) current residential units have been gutted and ready for full renovation to force appreciation. City of London has also deemed this site as eligible for the financial incentives for the redevelopment of Old East Village including the following: Facade Improvement Loan, Upgrade to Building Code Loan, Rehab & Redevelopment Tax Grant, and the Combined Tax Grant & Residential Development Charges Grant. Fantastic opportunity to buy and hold or immediately get to work and take advantage of the City of London's financial incentives to achieve the highest and best use with room to renovate 2 commercial retail/office space and a full renovation of the existing and additional residential units. Such a lot size within the City is also unique and rare for future development opportunities. Positioned for maximum visibility, accessibility, and character, this property enjoys a highly convenient location near Downtown, shopping districts, public transit hubs, the Western Fair District, and offers swift access to Highway 401. Fully Vacant and ready to close.
Address
778-780 Dundas Street S
List Price
$449,900
Property Type
Commercial
Type of Dwelling
Commercial Retail
Area
London
Sub-Area
East G
County
Middlesex
Bathrooms
5
Lot Size Source
GeoWarehouse
Lot Depth
204.14
Lot Shape
Rectangular
Lot Type
Building
Lot Size Units
Feet
Lot Width
33.19
MLS® Number
X12057111
Listing Brokerage
RARE REAL ESTATE
Postal Code
N5W 2Z7
Tax Amount
$5,541.51
Tax Year
2024
Community Features
Public Transit, Recreation/Community Centre
Heat Type
Gas Forced Air Open
Cooling Features
Partial
Garage Type
None
Security Features
Partial