354 Spruce Street, London East

$599,000
354 Spruce Street

$599,000

New
2d
Triplex2-Storey

354 Spruce Street, London East

Total Monthly Obligation $2,965

Beds
5
Baths
3
Park
3
Sqft
1100-1500
DOM
2d
Yield
3.8%
Cash on Cash
-6.9%
Cap Rate
3.1%
5Y IRR
10.1%
10Y IRR
10.3%
Property Type-Triplex
MLS® Number-X14105012
Beds-5
Bathrooms-3
Size-1100-1500 sqft
Lot Size-40.16 × 235.05 ft
Listed on site-Oct 21, 2026
Style-2-Storey
Building Type-Triplex
Age-100+
Taxes-$2,085 (2025)
Parking-3 - None
Basement-Unfinished, Walk-Up
Heating-Forced Air (Gas)
Brokerage-EXP REALTY
Cooling-None
Laundry-No
Fireplace-No
Pool-None
Facing-East
Exterior-Vinyl Siding
Roof-Asphalt Shingle
Foundation-Concrete Block, Slab
Sewer-Sewer
Possession-Flexible/ Immmediate
Neighbourhood-East H
Title-Residential Freehold

No agent assigned

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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Closing Costs

Mortgage Amount
$479,200
Land Transfer Taxes$8,455
Legal Fees (Est.)
$
Total cash required for closing$129,755

Total Monthly Obligation

$2,965/mo
Mortgage $2,416
Monthly Loss $2,329
Principal$636
Interest$1,780
Property Tax$174
Home Insurance$125
Variable Costs$250

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*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 354 Spruce Street

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