40 Summit Ave 124

North N, London, N6H 4S3
FOR SALE
$525,000
40 Summit Ave 124, London
40 Summit Ave 124
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3 + 1
BEDROOMS
3
BATHROOMS
1
KITCHENS
11 + 1
ROOMS
X9350503
MLSID
Contact Us
Property Description
Welcome to this beautifully renovated home, offering 3+1 bedrooms, 2.5 bathrooms, and a wealth of modern upgrades. Conveniently located near Western University, this spacious residence was completely updated in 2024, featuring elegant accent walls that add character and charm. The sleek, newly upgraded Ikea kitchen is equipped with brand-new appliances, including two refrigerators (2024), a dishwasher (2024), a stove (2024), and stylish new cabinetry (2024). The bathrooms have also been newly renovated (2024), and the home boasts freshly painted walls throughout. Ideal for investors, near Western University, Cherryhill Village Mall, and Costco, this property benefits from low condo fees of just $350 per month and generates impressive monthly rental income of $3,750, ensuring a steady and profitable return. Ready for immediate move-in, this home offers both comfort and investment potential. Dont miss out on this exceptional opportunity! This home will please you.
Listing History
List Date End Date Days Listed List Price Sold Price Status
2020-04-07 2020-05-27 55 $370,000 $365,000 Sold
2016-02-18 2016-02-26 10 $169,900 $169,900 Sold
2012-07-09 2012-10-15 98 $169,900 $161,360 Sold
2006-03-14 2006-03-30 16 $136,900 $133,800 Sold
Extras
Hot water tank is owned
Property Details
Community
City
Property Type
Condo Townhouse, 2-Storey
Approximate Sq.Ft.
1000-1199
Taxes
$2,737 (2024)
Basement
Finished, Full
Exterior
Brick
Heat Type
Baseboard
Heat Source
Electric
Air Conditioning
None
Parking Spaces
1
Parking 1
Exclusive
Garage Type
None
Room Summary
RoomLevelSizeFeatures
KitchenGround7.74' x 9.74'
DiningGround5.74' x 10.73'
LivingGround10.56' x 18.73'
BathroomGround2.79' x 4.13'
Br2nd9.74' x 13.75'
2nd Br2nd7.58' x 13.58'
3rd Br2nd7.74' x 10.73'
Bathroom2nd6.10' x 8.07'4 Pc Bath
FamilyBsmt12.50' x 19.72'
BrBsmt10.73' x 15.75'
BathroomBsmt5.54' x 6.10'
London Market Statistics
London Price Trend
40 Summit Ave 124 is a 3-bedroom 3-bathroom townhome listed for sale at $525,000, which is $68,423 (15.0%) higher than the average sold price of $456,577 in the last 30 days (August 19 - September 17). During the last 30 days the average sold price for a 3 bedroom townhome in London declined by $34,258 (7.0%) compared to the previous 30 day period (July 20 - August 18) and down $22,981 (4.8%) from the same time one year ago.
Inventory Change
There were 102 3-bedroom townhomes listed in London over the last 30 days (August 19 - September 17), which is up 39.7% compared with the previous 30 day period (July 20 - August 18) and up 580.0% compared with the same period last year.
Sold Price Above/Below Asking ($)
3-bedroom townhomes in London typically sold ($10,541) (2.3%) below asking price over the last 30 days (August 19 - September 17), which represents a $2,508 decrease compared to the previous 30 day period (July 20 - August 18) and ($3,383) 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 3-bedroom townhomes in London over the last 30 days (August 19 - September 17) stood at 54.9%, down from 1,172.6% over the previous 30 days (July 20 - August 18) and down from 80.0% one year ago.
Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 3-bathroom townhome in London stood at 31 days when successfully sold over the last 30 days (August 19 - September 17), compared to 66 days before being removed from the market upon being suspended or terminated.
Listing contracted with Bay Street Group Inc.
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