$679,900 - 1574 Richmond Street Unit 5, London North
Condo for Sale in London North
100 days on market- MLS Number
- X12872130
- Property Type
- Condo
- Status
- active
- Days on Site
- 100
- Bedrooms
- 5
- Bathrooms
- 3
- Square Feet
- 1,000 sqft
- Neighbourhood
- London North
- Locker
- None
- Exposure
- East
- Balcony
- None
- Listing Brokerage
- THE REALTY FIRM INC.
Welcome to 5-1574 Richmond Street, a beautifully newly renovated bungalow-style 2+3 bedroom end-unit condo located in the sought-after Richmond Rise community. Ideally situated within walking distance to Western University, University Hospital, and Masonville, this home offers exceptional convenience in a quiet, well-maintained setting.The bright foyer welcomes you with stunning polished porcelain tile, while California shutters throughout add timeless style and privacy. The main floor features a spacious open-concept kitchen, living, and dining area main floor laundry, and two cozy fireplaces. The oversized primary bedroom retreat offers a walk-in closet and a luxurious 5-piece ensuite.Enjoy outdoor living with a 10' x 12' sundeck and adjoining 13' x 9.7' covered deck, perfect for relaxing or entertaining. The fully finished lower level expands the living space with three additional bedrooms and a second laundry area, offering excellent flexibility for larger households, multi-generational living, or investors.Complete with a double car garage, this rare end-unit in a quiet, well-managed condo community presents an outstanding opportunity for homeowners or investors-particularly those with students attending Western.
Estimate your monthly payments for this property
Estimated Payment
$3,488.24/mo
Includes CMHC insurance ($18,969)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover London North
London North is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in London North
- •Convenient location in London North
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
London North offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
1574 Richmond Street Unit 5, London North
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $680/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 100 days on site, this property has exceeded the typical selling timeline for London North. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in London North.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Investment Perspective
Looking at this as an investment: London North properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,833 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.