$739,900 - 406 Grey Street, London East
Multi-Family for Sale in London East
Popular Listing- MLS Number
- X13263746
- Property Type
- Multi-Family
- Status
- active
- Days on Site
- 14
- Bedrooms
- 6
- Bathrooms
- 2
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- London East
- Listing Brokerage
- HOMELIFE/CIMERMAN REAL ESTATE LIMITED
This exceptional downtown corner-side-by-side duplex presents a rare opportunity in the highly sought-after SOHO district. As one of the largest properties of its kind in the neighbourhood, it offers the unique advantage of essentially providing two three-bedroom semi-detached homes for the price of one. Each unit features its own private driveway, separate entrance, individual basement, and dedicated backyard, ensuring both comfort and independence. Unit A (Grey Street-facing) offers three spacious bedrooms, a luxurious 4-piece spa-inspired bathroom, and main-floor laundry. The unit has been recently updated with a brand-new kitchen featuring granite countertops and stainless steel appliances. Additional highlights include a full basement with new windows, a large unfinished attic with significant potential, and a detached garage with a new roof and masonry repairs. This unit also benefits from four parking spaces. Unit B (Colborne Street-facing) has been extensively updated with a newly renovated bathroom, new front and rear entry doors, and a full suite of new appliances, including a refrigerator, stove, washer, dryer, dishwasher, range hood, sink, and faucet. Exterior pot lighting has also been added for enhanced curb appeal. Both units are separately metered for hydro, making this property an excellent opportunity for investors or multi-generational living. This is a truly rare offering in a prime location, combining size, functionality, and strong income potential.
Estimate your monthly payments for this property
Estimated Payment
$3,796.07/mo
Includes CMHC insurance ($20,643)
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 East
London East 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 East
- •Convenient location in London East
- •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 East 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.
406 Grey Street, London East
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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 $493/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.
Excellent Flexibility
With 6 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 East.
Investment Perspective
Looking at this as an investment: London East properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,083 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.