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Property Description
Prime Downtown Investment Opportunity 5-Bedroom Home with Separate Basement Entrance! Investors, parents, and first-time home buyers - this is your chance to own a fantastic 5-bedroom, 2.5-bathroom detached Heritage Home in one of London's most desirable areas. Just a short walk to Richmond Row's vibrant shops, restaurants, and amenities, this property is perfectly situated on a trendy, sought-after street.Features include high ceilings on the main floor, a renovated kitchen with stainless steel appliances, and a spacious fenced backyard. The basement has a separate entrance, adding versatility to the space. With parking accessible from the rear lane and a City of London rental license, this is a turn-key investment property. Currently fully leased until April 30, 2025, this is a great income-generating opportunity now, with the potential to become a beautiful owner-occupied home in the future.Don't miss out - schedule your showing today!
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Listing History
List Date | End Date | Days Listed | List Price | Sold Price | Status |
---|---|---|---|---|---|
2019-10-28 | 2019-12-12 | 45 | $499,900 | $489,900 | Sold |
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Property Details
Street
Community
City
Property Type
Detached, 2-Storey
Lot Size
24' x 142'
Acreage
< .50
Fronting
South
Taxes
$3,776 (2024)
Basement
Fin W/O
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
2
Driveway
Available
Garage Type
None
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Room Summary
Room | Level | Size | Features |
---|---|---|---|
Kitchen | Main | 11.22' x 9.06' | |
Dining | Main | 11.22' x 7.41' | |
Br | Main | 14.57' x 8.73' | |
Living | Main | 12.30' x 16.40' | |
Br | 2nd | 12.66' x 7.81' | |
Prim Bdrm | 2nd | 15.06' x 7.81' | |
Br | 2nd | 11.65' x 7.81' | |
Laundry | Bsmt | 9.65' x 10.83' | |
Utility | Bsmt | 6.99' x 7.97' | |
Br | Bsmt | 18.31' x 12.66' |
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London Market Statistics
London Price Trend
289 Pall Mall St is a 4-bedroom 3-bathroom home listed for sale at $650,000, which is $326,034 (33.4%) lower than the average sold price of $976,034 in the last 30 days (January 21 - February 19). During the last 30 days the average sold price for a 4 bedroom home in London increased by $81,067 (9.1%) compared to the previous 30 day period (December 22 - January 20) and up $593,150 (154.9%) from the same time one year ago.Inventory Change
There were 157 4-bedroom homes listed in London over the last 30 days (January 21 - February 19), which is up 38.9% compared with the previous 30 day period (December 22 - January 20) and up 946.7% compared with the same period last year.Sold Price Above/Below Asking ($)
4-bedroom homes in London typically sold ($20,736) (2.1%) below asking price over the last 30 days (January 21 - February 19), which represents a $15,133 increase compared to the previous 30 day period (December 22 - January 20) and ($5,311) 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 4-bedroom homes in London over the last 30 days (January 21 - February 19) stood at 35.0%, down from 71.7% over the previous 30 days (December 22 - January 20) and down from 105,113.3% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 4-bedroom 3-bathroom home in London stood at 48 days when successfully sold over the last 30 days (January 21 - February 19), compared to 86 days before being removed from the market upon being suspended or terminated.Listing contracted with Rock Star Real Estate Inc., Brokerage
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