$174,999 - 583 Mornington Avenue Unit 501, London East
Condo for Sale in London East
- MLS Number
- X13173560
- Property Type
- Condo
- Status
- active
- Days on Site
- 24
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 600 sqft
- Neighbourhood
- London East
- Locker
- Ensuite+Exclusive
- Exposure
- North West
- Balcony
- Terrace
- Listing Brokerage
- RE/MAX a-b Realty Ltd Brokerage
Bright and affordable 1+den condo with stunning views at 501-583 Mornington Ave, London, ON. This spacious unit is an excellent option for first-time buyers, investors, or anyone looking for an affordable student home. Set in a quiet, clean, and well-managed building, it offers comfort, convenience, and strong value. The large private balcony showcases sweeping city views and is the perfect place to relax with a morning coffee or enjoy the sunset. Inside, the practical layout includes a generous living area, a bright bedroom, and a versatile den ideal for a home office, study area, or guest space. Condo fees include heat, hydro, and water, making monthly costs easier to manage. Whether you are entering the market or adding a property in a high-demand rental area, this condo is a smart opportunity in a solid building.
Estimate your monthly payments for this property
Estimated Payment
$897.84/mo
Includes CMHC insurance ($4,882)
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.
583 Mornington Avenue Unit 501, 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 $292/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 24 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 600 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.