Just Listed
Address
587 Lambton Street, London East, ON
Price
$ 864,900
Property Attributes
- MLS#X13798490
- TypeSingle Family
- Listing Status New
- CityLondon East
- AreaEast B
- NeighbourhoodEast B
- Postal CodeN5Y 4G1
- Style2-Storey
- Taxes$ 10143
- Price$ 864,900
- Bedrooms3
- Full Bathrooms3
- Half Bathrooms0
- Sqr Footage2000-2500
Data Source:
Toronto Real Estate Board (TRREB)
Property Description
LOCATED AT ADELAIDE / LAMBTON, HIGH TRAFFIC COUNT WITH EXCELLENT COMMERCIAL/RESIDENTIAL USE. Unique freehold mixed-use opportunity in a great London location! This versatile property offers a combination of commercial space, residential income and additional living flexibility, all on one property. The upper level features a bright 2-bedroom apartment with a full 4-piece bathroom, updated kitchen finishes and refinished hardwood floors, currently rented and providing immediate income. The main floor offers flexible office space with two separate office/flex areas, a kitchenette and 2-piece bathroom, making it ideal for a business owner or professional office. 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. Situated on a property with 8 on-site parking spaces accessible off of Lambton Street, this building offers exceptional flexibility for an owner-user, investor or entrepreneur looking to combine residential and commercial uses. 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. Zoned OC5/R2-2, offering a range of permitted uses. A rare opportunity to own a flexible mixed-use property with multiple potential revenue streams.
| Price History | |
|---|---|
| 9/17/2026 | Listed $864,900 |
General Features
| Sewer | Sewer |
|---|---|
| Cooling | Central Air |
| Roof | Metal |
| Architectural Style | 2-Storey |
| Pool Features | None |
| Construction Materials | Brick |
| View | City |
| Heater Type | Forced Air |
| Parking Spaces | 8 |
| Property Subtype | Detached |
| Tax Year | 2026 |
| Lot Depth | 143.71 |
| PropertyFeatures | Public Transit,School |
| County | Middlesex |
| New Construction | No |
| Property Type | Residential Freehold |
| Attached Garage | No |
| Facing Direction | South |
| Garage Y/N | No |
| Status | New |
| City | London East |
| Senior Community Y/N | No |
| Lot Size Units | Feet |
| Property Attached Y/N | No |
| Tax Annual Amount | 10143.5 |
| Virtual Tour | https://unbranded.youriguide.com/587_lambton_st_london_on/ |
| Standard Status | Active |
| Occupancy Type | Owner |
| Legal Description | PART LOTS 15 & 16 PLAN 60(E) AS IN 617336 LONDON |
Interior Features
| Interior Amenities | Water Heater Owned |
|---|---|
| Basement | Finished |
| Heat Source | Gas |
| Basement (Y/N) | No |
| Air Conditioning Y/N | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Total Bedrooms | 3 |
| Elevator? | No |
| Total Baths | 3 |
| Bedrooms | 2+1 |
| Living Area Range | 2000-2500 |
Exterior Features
| Total Parking | 8.0 |
|---|---|
| Garage Type | None |
| Foundation Details | Concrete Block |
| Spa | No |
| Lot Size Source | MPAC |
| Waterfront Y/N | No |
| Covered Spaces | 0.0 |
Amenities
- Views
- New Construction
- Adult 55+
- Lease To Own
- No Strata Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in N5Y 4G1
Price
Visits
Toronto Real Estate Board (TRREB); All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested