2424 Main St

South V, London, N6P 1R2
FOR SALE
$1,250,000
2424 Main St, London
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5 + 1
BEDROOMS
4
BATHROOMS
2 + 1
KITCHENS
6 + 2
ROOMS
X11943986
MLSID
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Property Description
Welcome to 2424 Main St, a prime property located in the heart of Lambeth, Ontario. This stunning corner lot offers incredible versatility and curb appeal, making it a perfect opportunity for investors, entrepreneurs, or anyone seeking a unique live-in option. Situated along bustling Main Street and just minutes from Highways 402 and 401, this location provides unmatched accessibility and visibility, with approximately 15,000 vehicles passing by daily.The property features highly versatile BDC (Business District Commercial) zoning, allowing for almost endless potential uses, from retail and office spaces to mixed residential and commercial purposes. Recently updated from top to bottom, the interior boasts modern finishes throughout and a flexible layout that can suit a variety of needs. The property can be used entirely for commercial purposes or divided into income-producing units, with the option to separate the main and lower levels. While the lower unit is currently non-conforming, it offers tremendous potential for a variety of uses. Multiple entrances enhance the functionality, allowing for easy access to both floors. Inside, the space includes four bathrooms, designed to accommodate a wide range of uses.The large lot offers ample on-site parking, ideal for businesses or tenants, while its prominent location along Main Street ensures high visibility for commercial endeavors. Whether youre looking to operate your business, create a dual-purpose property, or simply make a smart investment, 2424 Main St delivers exceptional potential.
Property Details
Street
Community
City
Property Type
Detached, 2 1/2 Storey
Approximate Sq.Ft.
3000-3500
Lot Size
43' x 206'
Fronting
South
Taxes
$5,254 (2024)
Basement
Finished
Exterior
Brick
Heat Type
Radiant
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
14
Driveway
Private
Garage Type
None
London Market Statistics
London Price Trend
2424 Main St is a 5-bedroom 4-bathroom home listed for sale at $1,250,000, which is $353,629 (39.5%) 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 4-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 Oak And Key Real Estate Brokerage, Inc.
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