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342 Richmond Street

East K, London East, N6A 3C3

$999,900

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Listed 175 days ago · MLS® X13054230

About this home

Prime investment opportunity in the heart of Downtown London! Welcome to 342 Richmond Street, a fully tenanted mixed-use commercial building that perfectly blends income-generating potential with modern upgrades. Featuring an established ground-level storefront and five beautifully renovated residential units, three spacious 2-bedroom, 1-bathroom apartments and two cozy 1-bedroom, 1-bathroom units, this property is designed to attract quality tenants. Each residential unit showcases updated finishes, ensuring long-term tenant satisfaction, while the convenience of on-site laundry adds extra appeal. Recent improvements include a brand-new roof, offering peace of mind for years to come. With a stellar net operating income of $111,000 annually and a high-demand location amidst Londons bustling core, this property is a rare find. Just steps from trendy shops, dining, and cultural landmarks, this property offers an exceptional opportunity to own a turnkey asset in a thriving urban center. Don't miss your chance to capitalize on this premium downtown cash cow!

Details

Type
Store W Apt/Office
Lot
18 × 97 ft
Garage
None
Property tax
$8,170 (2025)
Neighbourhood
East K
Municipality
London East

Heating, cooling and services

Heating
Electric Hot Water
Utilities
Yes

Building and exterior

Building area
5,200 Square Feet

More

Possession
Flexible
Cross street
North of York and Richmond

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

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The neighbourhood

Getting around Very walkable

No subway, LRT or GO station within a short trip.

Within a 10-minute walk: 4 grocery stores, 83 cafés and restaurants, 21 parks, 1 pharmacy. Nearest grocery: Doris Family Produce (150 m). Nearest park: Market Lane (200 m).

Schools nearby

Elementary

  • Lord Roberts Public School1.3 km
  • St. Martin Separate School Catholic
    EQAO: Gr 6 reading 87%, math 42%    1.3 km
  • Victoria Public School
    EQAO: Gr 6 reading 42%, math 5%    1.4 km
  • Aberdeen Public School
    EQAO: Gr 6 reading 65%, math 33%    1.5 km

Secondary

  • London Central Secondary School
    EQAO: Gr 9 math 81%, literacy test 91%    13 min walk
  • Catholic Central High School Catholic
    EQAO: Gr 9 math 57%, literacy test 89%    16 min walk
  • H.B. Beal Secondary School
    EQAO: Gr 9 math 56%, literacy test 79%    1.3 km

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area N6A

Owners / renters
29% / 71%
Median household income
$61,200
Average age
41
Children under 15
7%
Homes
19% detached, 55% high-rise
Commute by transit
12%
Population
13,810

Languages spoken most at home besides English: Spanish 1.1%, Mandarin 1%, Portuguese 0.8%, Arabic 0.6%.

Safety

Crime Severity Index for London police: 73 vs 57 for Ontario (2025).

Police-reported figures for the whole police service area, not this street. Rates use the area’s resident population.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Crime Severity Index: Statistics Canada.

Living here

Commute

Noise 1 source nearby

  • 🚆 Rail line (Strathroy Subdivision)150 m

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by TEAM GLASSER REAL ESTATE BROKERAGE INC..

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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