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Property Description
Don't miss this rare chance to own a purpose-built luxury student rental in one of Ontario's fastest-growing university towns. Recently renovated with a spacious two-storey addition, this fully licensed and city-permitted property is ideally located near transit, including a quick one-bus route to Western University, downtown, shopping and more. Featuring five generously sized bedrooms, each with its own private bathroom, plus a powder room on the main floor, this property is consistently in high demand among students. The open-concept layout includes two common areas and a modern kitchen with stainless steel appliances, creating a functional and stylish living space. With a flawless five-year track record of 100 percent occupancy due to its prime location and premium features, this property offers a strong 5 percent cap rate, combining stability, growth potential and unmatched desirability in the London market.
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Listing History
List Date | End Date | Days Listed | List Price | Sold Price | Status |
---|---|---|---|---|---|
2023-11-23 | 2024-02-08 | 77 | $1,075,000 | - | Terminated |
2022-04-26 | 2022-05-16 | 20 | $849,900 | $820,000 | Sold |
Property Features
Hospital, Library, Park, Public Transit, School
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Property Details
Street
Community
City
Property Type
Detached, 2-Storey
Lot Size
42' x 104'
Fronting
East
Taxes
$7,032 (2024)
Basement
Finished
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
2
Driveway
Pvt Double
Garage Type
None
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Room Summary
Room | Level | Size | Features |
---|---|---|---|
Kitchen | Main | 12.24' x 12.24' | Stainless Steel Appl, Window, Laminate |
Dining | Main | 22.01' x 11.58' | Combined W/Living, Laminate, Pot Lights |
Living | Main | 22.01' x 11.58' | Combined W/Dining, Laminate, Pot Lights |
Br | Main | 10.99' x 10.99' | Broadloom, Closet, Ensuite Bath |
2nd Br | Main | 10.99' x 10.99' | Broadloom, Closet, Ensuite Bath |
3rd Br | 2nd | 10.99' x 10.99' | Broadloom, Closet, Ensuite Bath |
4th Br | 2nd | 10.99' x 10.99' | Broadloom, Closet, Ensuite Bath |
5th Br | 2nd | 14.01' x 10.99' | |
Rec | Bsmt | 22.51' x 9.51' | Broadloom, Window, Laminate |
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London Market Statistics
London Price Trend
187 Rathowen St is a 5-bedroom 6-bathroom home listed for sale at $999,000, which is $102,629 (11.4%) higher than the average sold price of $896,371 in the last 30 days (December 19 - January 17). During the last 30 days the average sold price for a 5 bedroom home in London increased by $149,246 (20.0%) compared to the previous 30 day period (November 19 - December 18) and up $196,372 (28.1%) from the same time one year ago.Inventory Change
There were 12 5-bedroom homes listed in London over the last 30 days (December 19 - January 17), which is down 14.3% compared with the previous 30 day period (November 19 - December 18) and up 500.0% compared with the same period last year.Sold Price Above/Below Asking ($)
5-bedroom homes in London typically sold ($47,555) (5.3%) below asking price over the last 30 days (December 19 - January 17), which represents a $18,005 decrease compared to the previous 30 day period (November 19 - December 18) and $0 less than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 5-bedroom homes in London over the last 30 days (December 19 - January 17) stood at 58.3%, up from 57.1% over the previous 30 days (November 19 - December 18) and up from 50.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 5-bedroom 6-bathroom home in London stood at 54 days when successfully sold over the last 30 days (December 19 - January 17), compared to 100 days before being removed from the market upon being suspended or terminated.Listing contracted with Royal Lepage Real Estate Services Ltd.
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