$799,900

For sale

1228 Richmond Street, London East (East B) - Single Family for Sale

1228 Richmond Street, London East (East B), Ontario, N6A3M2

6 beds2 baths4 parking1,300 ft²36 × 125 ft (4,438 sq ft) lot sizeListed 15 days ago

Overview

This 6-bedroom, 2-bathroom home in London East is for sale offering roughly 1,300 sq ft of space. Its $799,900 asking price sits right in line with the $775,000 median in London East. It has been on the market 15 days, fresher than the London East average of 46 days.

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Description

Location, location, location! Situated just steps from the gates of Western University, 1228 Richmond Street presents an exceptional turn-key investment opportunity. This solid 2-storey brick property features parking for 4 vehicles and major capital upgrades, including an energy-efficient heat pump (2025), upgraded attic insulation (2025), and a new hot water tank (2024). The main residence boasts original hardwood floors, classic wood trim, a spacious kitchen, 4 bedrooms (1 main, 3 upper), a full bath, upper-level laundry, and a large deck overlooking a low-maintenance green space. A separate side entrance leads to a basement unit with 2 bedrooms, 1 bath, kitchen, living room and private laundry. Unmatched convenience and income potential in a prime corridor of London. (id:66096)

Property Details

MLS®: X14102416
Property Type: Single Family
Zoning: R1-5
Bedrooms: 6
Beds (above / below): 4 above · 2 below
Bathrooms: 2
Parking: 4
Interior Size: 1,300 ft²
Lot Size: 36 × 125 ft (4,438 sq ft)
Frontage: 36 ft
Storeys: 2
Basement: Finished, Apartment in basement, Separate entrance, N/A, N/A, N/A
Heating: Forced air, Electric, Natural gas
Cooling: Central air conditioning
Garage: No Garage
Fireplace: Yes
Ownership: Freehold

Rooms

Main level

Foyer: 1.96 x 3.05 meters
Living room: 3.87 x 5.62 meters
Kitchen: 3.86 x 3.57 meters
Bedroom: 3.86 x 4 meters

Basement

Laundry room: 1.98 x 2.28 meters
Kitchen: 2.44 x 2.8 meters
Bathroom: 2.44 x 1.55 meters
Bedroom 5: 2.56 x 3.6 meters
Primary Bedroom: 2.71 x 3.22 meters
Living room: 5.98 x 3.92 meters

Features

Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer
Foundation: Poured Concrete
Exterior: Brick
Lot Features: In-Law Suite

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

15d

London East (East B) listings, avg age

46d

Price / ft²

$615

List price

$800K

Haho

This 6-bed single family in London East (East B) has been listed for 15 days, which is 31 days fresher than the city average of 46. Act while there is still low competition.

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Listed by BLUE FOREST REALTY INC. · RICK BUNCICK

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N6A)

This home lists at $799,900, about 13.1× the local median household income of $61,200.

Carrying it typically needs a household income of about $156,248 (20% down, 25-yr amortization, stress-tested) — roughly 155% above the area median.

Median household income: $61,200
Population: 13,810
Median age: 34
Owner / renter: 29% / 71%
Avg. household size: 1.8

Source: Statistics Canada, 2021 Census (FSA N6A)

$799,900· $615/ft²

For sale

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Full Cost Breakdown

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Down Payment6.87% · $54,990

Min 6.87%50%

Mortgage payment$4,130/mo

↳ CMHC premium ($29,796 capitalized)

Property tax (est.)$497/mo

Total monthly$4,626

Cash Needed to Close

Down payment (6.87%)$54,990

Land transfer tax$12,473

Est. closing costs$4,900

Total cash needed$72,363

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