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Property Description
Affordable One Bedroom condo at 563 Mornington Avenue with opportunity to build equity. Great location with public transit right outside the building, a short walk to shopping, Fanshawe College and other amenities. Low property taxes and condo fee of $496.25 includes, heat, hydro and water. Currently tenant-occupied.
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Property Details
Street
Community
City
Property Type
Condo Apt, Apartment
Approximate Sq.Ft.
500-599
Taxes
$1,243 (2024)
Basement
None
Exterior
Concrete
Heat Included
Yes
Heat Type
Radiant
Heat Source
Gas
Hydro Included
Yes
Air Conditioning
None
Parking Spaces
1
Parking 1
Common
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Kitchen | Main | 4.99' x 8.99' | |
| Dining | Main | 8.01' x 10.01' | |
| Living | Main | 12.01' x 21.49' | |
| Br | Main | 12.50' x 10.01' | |
| Bathroom | Main | 4.00' x 4.99' |
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London Market Statistics
London Price Trend
563 Mornington Ave 501 is a 1-bedroom 1-bathroom condo listed for sale at $159,900, which is $148,047 (48.1%) lower than the average sold price of $307,947 in the last 30 days (October 24 - November 22). During the last 30 days the average sold price for a 1 bedroom condo in London increased by $4,631 (1.5%) compared to the previous 30 day period (September 24 - October 23) and up $35,947 (13.2%) from the same time one year ago.Inventory Change
There were 14 1-bedroom condos listed in London over the last 30 days (October 24 - November 22), which is down 17.6% compared with the previous 30 day period (September 24 - October 23) and up 1,300.0% compared with the same period last year.Sold Price Above/Below Asking ($)
1-bedroom condos in London typically sold ($5,663) (1.8%) below asking price over the last 30 days (October 24 - November 22), which represents a $547 decrease compared to the previous 30 day period (September 24 - October 23) and $20,000 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 (October 24 - November 22) stood at 135.7%, up from 70.6% over the previous 30 days (September 24 - October 23) and down from 200.0% 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 36 days when successfully sold over the last 30 days (October 24 - November 22), compared to 88 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Centre City Realty Inc.
Similar Listings
Affordable One-Bedroom Condo with Potential! Welcome to 573 Mornington Avenue, where opportunity awaits. This spacious one-bedroom condo is an ideal choice for investors or first-time buyers looking for a project. Priced to reflect its need for updates, this unit is a blank canvas ready for a modern transformation. Features include a functional layout, generous living space, and ample natural light. The location is convenient, with easy access to shopping, public transit, and local amenities. If your'e looking for a property with value and potential, this one-bedroom condo could be your next investment or renovation project. Dont miss out on this affordable opportunity to create the home or rental property of your dreams! Currently tenant-occupied. Photos are of a similar condo with exact same layout and staged for presentation.
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Large 2 bed unit with a big balcony. Seller will only consider offers where the buyer assumes the tenant - no exceptions (once a buyer takes possession of the property you're free to serve notice for vacant possession). Tenant moved in May 1, 2017 and is currently renting on a month-to-month basis at $927.60/mth. Rent was last increased on Sept 1/23. Family friendly neighbourhood surrounded by mature trees and grass area. Walking distance to all the shopping at the corner of Oxford and Highbury and easy access to Fanshawe College with the bus stop at your door. Property tax is $1388/yr. Condo fee is $636/mth which includes heat, hydro, water. No Pictures available. Viewing by appointment only. Priced well below recent sales for units of the same size.
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1 bedroom unit with serene views of trees and creek! Enter through the front door into the open concept unit featuring living room, dinette and kitchen. Generous bedroom and 4-piece main bathroom. Updated flooring throughout. Private balcony in clean building. Perfect for first time buyers or investors. Heat and Hydro included in condo fees. Close to public transit, walking trails, golf, highway and more.
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