587 Lambton Street,London East, ON N5Y 4G1
London East, ON N5Y 4G1
Description
LOCATED AT ADELAIDE / LAMBTON, HIGH TRAFFIC COUNT WITH EXCELLENT COMMERCIAL/RESIDENTIAL USE. Unique freehold mixed-use opportunity in a great London location! This versatile property offers a combination of commercial space, residential income and additional living flexibility, all on one property. The upper level features a bright 2-bedroom apartment with a full 4-piece bathroom, updated kitchen finishes and refinished hardwood floors, currently rented and providing immediate income. The main floor offers flexible office space with two separate office/flex areas, a kitchenette and 2-piece bathroom, making it ideal for a business owner or professional office. Finished basement offering additional living space with an existing kitchen area and plumbing in place, providing potential for future use. Basement has not been rented in many years. Buyer to verify continued use. Situated on a property with 8 on-site parking spaces accessible off of Lambton Street, this building offers exceptional flexibility for an owner-user, investor or entrepreneur looking to combine residential and commercial uses. Additional updates include a metal roof and eavestroughs (2020/21), two owned hot water tanks (2020), newer front door, dedicated bell fibre optic line and various updates throughout the home. The property is equipped with two furnaces, with one serving the main and lower levels and the other dedicated to the upper-level apartment. Double-brick construction with additional insulation provides excellent sound separation, making the interior remarkably quiet. Zoned OC5/R2-2, offering a range of permitted uses. A rare opportunity to own a flexible mixed-use property with multiple potential revenue streams.
Details
| MLS # | X13798490 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 44 |
| Listing Provided By | RE/MAX CENTRE CITY REALTY INC. | X13798490 795300 |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 3 |
| Basement | Y |
| Story(s) | 2 |
| Acreage | 0.16 |
| Property View | City |
Interior
| Interior Features | Water Heater Owned |
|---|---|
| Cooling | Central Air |
| Heat Source | Gas |
| Fireplace Yes / No | No |
Exterior
| Roof | Metal |
|---|---|
| Foundation Details | Concrete Block |
| View | City |
| Construction Materials | Brick |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Sewer |
|---|
Taxes
| Tax Annual Amount | 10143.5 |
|---|---|
| Tax Legal Description | PART LOTS 15 & 16 PLAN 60(E) AS IN 617336 LONDON |
| Tax Year | 2026 |
Area Information
| Province | ON |
|---|---|
| County | Middlesex |
| City | London East |
| Postal Code | N5Y 4G1 |
| Area | East B |
| Listing VS Median (in N5Y 4G1) | |
Price: $864,900 low | high Med: $864,900 On site: 44 low | high Med: 44 | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Middlesex |
| City | London East |
| Postal Code | N5Y 4G1 |
| Area | East B |
| Listing VS Median (in N5Y 4G1) | |
Price: $864,900 low | high Med: $864,900 On site: 44 low | high Med: 44 | |
