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Property Description
The Gainsborough is a unique Life Lease Community for adults 55+ Discover comfort and convenience in this stylish 1-bedroom, 1-bathroom condo with private balcony. Perfectly designed for modern living, this home offers a well-appointed layout with neutral finishes throughout. The open concept living and dining area is spacious, offering plenty of natural light and a warm, inviting atmosphere. The kitchen features ample cabinet and counter space with pantry ideal for preparing meals or entertaining guests. The spacious bedroom offers a peaceful retreat, complete with a generous closet for all your storage needs. The 4 pc. bathroom is functional with in unit laundry. Located in a desirable neighborhood, this home provides easy access to local shops, restaurants, and public transportation, making it the ideal spot for city living. Building offers woodworking room, library, exercise room, billiards room, ping pong, fireside lounge, hair salon, chapel, guest suites, outdoor patios and sitting space. Each unit includes an exclusive underground storage locker, with open surface parking included and underground parking available for $50/month (subject to availability) Located within walking distance of the scenic nature trails, Sherwood Forest Mall, Aquatic Centre, public transit, and University Hospital. This community is ideal for an active and social lifestyle. Please note that this is a no-pet, cash-purchase-only community with no mortgage options available for life lease. All appliances included! Cash purchase only, a Life lease building cannot be mortgaged. For Adults 55 plus. Maximum of 2 adults per unit. No Pets & No Renters allowed.
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Property Features
Library, Place Of Worship, Public Transit
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Property Details
Street
Community
City
Property Type
Condo Apt, Apartment
Approximate Sq.Ft.
600-699
Taxes
$1,347 (2024)
Basement
None
Exterior
Brick
Heat Type
Water
Heat Source
Gas
Air Conditioning
Central Air
Parking Spaces
1
Parking 1
Common
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Family | Main | 11.15' x 13.22' | |
| Dining | Main | 5.87' x 13.22' | |
| Br | Main | 12.60' x 10.56' | |
| Kitchen | Main | 8.56' x 9.38' |
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London Market Statistics
London Price Trend
511 Gainsborough Rd 224 is a 1-bedroom 1-bathroom condo listed for sale at $179,900, which is $125,733 (41.1%) lower than the average sold price of $305,633 in the last 30 days (January 21 - February 19). During the last 30 days the average sold price for a 1 bedroom condo in London increased by $44,696 (17.1%) compared to the previous 30 day period (December 22 - January 20) and up $190,698 (165.9%) from the same time one year ago.Inventory Change
There were 23 1-bedroom condos listed in London over the last 30 days (January 21 - February 19), which is up 53.3% compared with the previous 30 day period (December 22 - January 20) and up ∞ compared with the same period last year.Sold Price Above/Below Asking ($)
1-bedroom condos in London typically sold ($5,116) (1.7%) below asking price over the last 30 days (January 21 - February 19), which represents a $19,740 increase compared to the previous 30 day period (December 22 - January 20) and ($2,394) 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 1-bedroom condos in London over the last 30 days (January 21 - February 19) stood at 26.1%, down from 106.7% over the previous 30 days (December 22 - January 20) and down from ∞ one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 1-bedroom 1-bathroom condo in London stood at 39 days when successfully sold over the last 30 days (January 21 - February 19), compared to 89 days before being removed from the market upon being suspended or terminated.Listing contracted with Keller Williams Lifestyles
Similar Listings
One of the lowest priced and most affordable apartment condos in London! Excellent floor plan on this second floor unit with balcony overlooking the quiet parking lot. North/West exposure for lots of natural light. Unit has new flooring, white kitchen, fresh paint throughout and new fridge. Great East end location for those wanting close proximity to Highway 401 or London Airport. Close to the London Trail system with great walking and biking trails. Condo fees shown includes all heat and water. Laundry facilities inside the building. Vacant possession! Great opportunity to break into the market as investor or first time owner!
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