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$ 864,900
Est. payment /mo
New
587 Lambton ST London East, ON N5Y 4G1
2 Beds
3 Baths
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000-2500
Subdivision East B
MLS Listing ID X13798490
Style 2-Storey
Bedrooms 2
Annual Tax Amount $10,143
Tax Year 2026
Property Sub-Type Detached
Property 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.
Location
Province ON
County Middlesex
Area Middlesex
Rooms
Family Room No
Basement Finished
Kitchen 1
Separate Den/Office 1
Interior
Interior Features Water Heater Owned
Cooling Central Air
Fireplace No
Heat Source Gas
Exterior
Pool None
View City
Roof Type Metal
Lot Frontage 48.85
Lot Depth 143.71
Total Parking Spaces 8
Building
Building Age 51-99
Unit Features Public Transit,School
Foundation Concrete Block
Others
ParcelsYN No
Virtual Tour https://unbranded.youriguide.com/587_lambton_st_london_on/
Listed by RE/MAX CENTRE CITY REALTY INC.
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145 Wharncliffe Rd S, London, ON N6J 2K4, CAN
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