$359,900
524 SIMCOE Street
Beds
5
Baths
3
Sqft
—
Year
1896
Type
Multi-family
Suite
Suite potential
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for London. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
524 Simcoe Street offers a great opportunity for a mortgage helper (ideal for first time Buyers), investors, or multi-generational families to aquire a spacious detached two storey property! This property features a Main Level 3 Bedroom and 1 Bath unit accross the entire main floor w/ a large unfinished basement ideal for storage & an Upper Level 2 Bed and 1 Bath Unit. In total this property features nearly 1,900 sq ft of newly renovated main and upper levels and a very functional unfinished basement (replacement value to rebuild would be approximately $500,000). Each unit includes a full laundry set w/ washer and dryer. Ample upgrades to the property include stainless steel stove,fridge, and range hoods in both units; revitalized kitchen with new countertops and sink in Lower Unit w/ entirely new kitchen in the Upper Unit; Washrooms have newly retiled shower enclosures, new vanities, LED Mirrors, new energy efficient toilets,and shower heads; floors have been levelled and include luxury vinyl plank flooring throughout (carpet free property). The layout provides flexibility for those looking to live in one unit and rent out the other, or for family accross multiple generations looking to live under the same roof but with seperation between units. The large fenced backyard is ideal for families with kids and for pet owners. The spacious driveway features parking for up to six vehicles. The location situates the property near downtown, with direct access to public transit, close proximity to schools, and many amenities in the area. Seller open to rent one or more units for Closing; projected rents are $1900/mo for Main Level Unit & $1250/mo for Upper Level Unit inclusive of utilties (or $1750/mo for Main Level Unit & $1100/mo for Upper Level Unit with tenants paying all utilities in additional to monthly rents). (id:65958)
- Subtype
- Multi-family
- Structure
- Duplex
- Community
- East K
- Common interest
- Freehold
- Living area
- 1,542 square feet
- Lot size
- 0.11 acres
- Lot dimensions
- 0.107
- Parking
- 6 total
- Stories
- 2
- On market
- Apr 18, 2026
- Status changed
- Apr 26, 2026
- Annual tax
- $2,431
- Zoning
- R2-2
- Photos
- 50
- MLS#
- 40822062
- Area
- LONDON
Features and systems
Basement
Appliances
Heating
Cooling
Exterior
Foundation
Lot
Community
Cash on cash
16.36%
Cap rate
8.14%
GRM
9.1
Break-even rent
$2,267
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 26, 2026.