342 Richmond Street, London East, ON N6A 3C3
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!
- MLS number
- X13054230
- Type
- Store W Apt/Office
- Status
- Active
- Bedrooms
- —
- Bathrooms
- —
- Postal code
- N6A 3C3
- Photos
- 39
- Property tax
- $8,170 / year
This listing’s own days on market are shown above. How long the property has been for sale across every earlier listing is drawn from records the board releases only to registered users — a free account opens it, along with the sale history below.
Property details
As filed by the listing brokerage. Anything the board left blank is left out rather than shown as unknown — and none of it is guaranteed accurate by PropTx, so verify what you rely on.
Property
- Type
- Store W Apt/Office
- Class
- Commercial
- Community
- East K
- Municipality
- London East
- Cross street
- North of York and Richmond
- Zoning
- DA1
Land
- Lot
- 18 × 97 feet
Heating, cooling and services
- Heating
- Electric Hot Water
- Cooling
- No
- Water
- Municipal
Listing
- MLS number
- X13054230
- Status
- New
- Previous status
- Draft
- Listed on
- 2026-04-28
- Expires
- 2026-10-31
- Taxes
- $8,170 (2025)
- Board
- London and St. Thomas Association of REALTORS
Listing history
No previous listings found for this address.
Where this property is
Where this address sits, matched against open government data.
Matched to a published address point for this address.
Schools
The school boundaries this address is inside, and the schools nearest it. Boards redraw boundaries and cap programs — confirm with the board before this affects a decision.
Other schools nearby
By distance from this address, not school boundary — a school 400 m away can be in another school’s attendance area.
| School | Level | Distance | Rating |
|---|---|---|---|
| London International Academy | Secondary | 47 m | Not reported |
| London Central Secondary School Thames Valley DSB | Secondary | 828 m | / 10 86% met the standard · 2 of 6 measures |
| Catholic Central High School London District Catholic School Board | Secondary | 951 m | / 10 73% met the standard · 2 of 6 measures |
| Infinity School | Elementary | 1.1 km | Not reported |
| Woodfield French Immersion Public School Thames Valley DSB | Elementary | 1.3 km | / 10 81% met the standard |
| St Martin Separate School London District Catholic School Board | Elementary | 1.4 km | / 10 72% met the standard |
How the rating is calculated
EQAO — Ontario’s testing agency — publishes, for each school, the percentage of students meeting the provincial standard in Grade 3 and Grade 6 reading, writing and mathematics. The rating is the average of those percentages divided by ten. A school where 72% of students met the standard rates 7.2 out of 10.
Nothing is weighted or adjusted, and schools are not ranked against each other. Where EQAO withholds a result to protect the privacy of a small group of students, that measure is left out rather than counted as zero — so a rating built on fewer than six measures says so.
What it does not measure. It is one year of standardised testing in three subjects. It says nothing about teaching, programs, or whether a school suits a particular child, and it tracks neighbourhood household income closely enough that it partly measures the neighbourhood rather than the school. Treat it as one figure among many.
Source: Ontario Ministry of Education, School Information and Student Demographics (2024–25), Open Government Licence – Ontario.
H-Value
This neighbourhood
Statistics Canada 2021 Census, for the surrounding few blocks — about 965 people.
The neighbourhood, by the census
Statistics Canada 2021 Census for dissemination area 35390548 — the few blocks around this address, home to 965 people. It describes the area, not this property.
Percentages are of the 740 responses in this category. Statistics Canada rounds counts and withholds small ones to keep individuals unidentifiable, so categories with too few people to publish are absent rather than shown as zero.
Source: Statistics Canada, 2021 Census of Population. Contains information licensed under the Open Government Licence – Canada.
Work out the numbers
Everything below is calculated in your browser from figures you can change. Nothing is sent anywhere.
If you rented it out
How this is calculated, and what it leaves out
Canadian fixed-rate mortgages compound semi-annually, not monthly, so the monthly rate here is (1 + rate/2)1/6 − 1. Most calculators use rate ÷ 12, which is the American convention and overstates the payment by tens of dollars a month.
Below 20% down, default insurance is mandatory and is added to the loan rather than paid at closing: 2.80% at 85% loan-to-value, 3.10% at 90%, 4.00% at 95%. It is unavailable at or above $1.5M, which is why 20% is a hard floor there.
Not included: vacancy, property management, capital repairs, income tax, and the fact that a lender qualifies you at a stress-test rate rather than the one you are quoted. This is arithmetic on the numbers above, not a mortgage approval or an opinion of what you can afford.