$209,900 - 511 Gainsborough Road Unit 215, London North
Condo for Sale in London North
37 days on market- MLS Number
- X13121706
- Property Type
- Condo
- Status
- active
- Days on Site
- 37
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 800 sqft
- Neighbourhood
- London North
- Locker
- Exclusive
- Exposure
- South
- Balcony
- Open
- Listing Brokerage
- KELLER WILLIAMS LIFESTYLES
Welcome to the Gainsborough! This is a unique Life Lease Community for adults 55+. Discover comfort and convenience in this stylish 2-bedroom, 1.5 bathroom condo with private balcony. Perfectly designed for modern living, this home offers a well-appointed layout with neutral finishes throughout. The open concept living and dining area is spacious, offering plenty of natural light and a warm, inviting atmosphere with plenty of windows. The kitchen features ample cabinet and counter space ideal for preparing meals or entertaining guests. The spacious bedrooms offer a peaceful retreat, complete with a generous closets for all your storage needs. The 4 pc. bathroom is very spacious and functional with bedroom access. The added feature of the 2pc. bathroom is perfect for guests. Separate in unit laundry room with storage. Located in a desirable neighborhood, this unit provides easy access to local shops, restaurants, and public transportation, making it the ideal spot for city living. Building offers woodworking room, library, exercise room, billiards room, ping pong, fireside lounge, hair salon, chapel, guest suites, outdoor patios and sitting space. Each unit includes an exclusive underground storage locker, with open surface parking included and underground parking available for $50/month (subject to availability). Located within walking distance of the scenic nature trails, Sherwood Forest Mall, Aquatic Centre, public transit, and close to University Hospital. This community is ideal for an active and social lifestyle. Please note that this is a no-pet, cash-purchase-only community with no mortgage options available for life lease. All appliances included! Cash purchase only, a Life lease building cannot be mortgaged. For Adults 55 plus. Maximum of 2 adults per unit. No Pets & No Renters allowed.
Estimate your monthly payments for this property
Estimated Payment
$1,076.90/mo
Includes CMHC insurance ($5,856)
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.
511 Gainsborough Road Unit 215, 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 $262/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.
Market Position
At 37 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
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.
Efficient Living
At 800 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
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.