587 Lambton Street, London East, ON N5Y 4G1
London East, ON N5Y 4G1
About this property
LOCATED AT ADELAIDE / LAMBTON. HIGH TRAFFIC COUNT. Rare freehold mixed-use opportunity with income, office space and exceptional flexibility. Located in London, this OC5/R2-2 property combines an established main-floor office configuration with a separately rented 2-bedroom residential apartment above. The main level features two flexible office spaces, kitchenette and 2-piece bathroom, providing an excellent setup for an owner-user, professional office or service-based business. The upper apartment offers 2 bedrooms, full bathroom, updated kitchen finishes and refinished hardwood flooring, providing a residential component. Finished basement offering additional living space with an existing kitchen area and plumbing in place, providing potential for future use. Basement has not been rented in many years. Buyer to verify continued use. 8 on-site parking spaces add significant value for both business and residential users. Additional updates include a metal roof and eavestroughs (2020/21), two owned hot water tanks (2020), newer front door, dedicated bell fibre optic line and various updates throughout the home. The property is equipped with two furnaces, with one serving the main and lower levels and the other dedicated to the upper-level apartment. Double-brick construction with additional insulation provides excellent sound separation, making the interior remarkably quiet. A rare opportunity to own a flexible mixed-use property with multiple potential revenue streams.
Property facts & features
- Days on market
- Not reported
- Property type
- Office
- MLS® number
- X13798498
- Source status
- New
- Bedrooms
- Not provided
- Bathrooms
- Not provided
- Reported interior area
- 2330.38
- Neighbourhood
- Not provided
- Postal code
- N5Y 4G1
- Garage
- None
- Lot depth (source units)
- 143.71
- Annual property tax
- 10143.5
- Basement
- Not provided
- Laundry
- Not provided
- Interior features
- Not provided
- Exterior features
- Not provided
- MLS entry age (not confirmed DOM)
- 45 days
Values and units are reported by the listing source. Verify measurements and fees with the brokerage.
Floor plans & room measurements
Floor plans and verified room measurements are not available for this property.
Property value & listing history
New · $864,900
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Explore active properties in London East →Listing brokerage: RE/MAX CENTRE CITY REALTY INC.. Displayed by EnterHome Realty. Source: authorized IDX record, MLS® X13798498. Information deemed reliable but not guaranteed.