$699,900 - 712 Chester Street, London South
Detached for Sale in London South
45 days on market- MLS Number
- X13085878
- Property Type
- Detached
- Status
- active
- Days on Site
- 45
- Bedrooms
- 5
- Bathrooms
- 2
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- London South
- Listing Brokerage
- PG DIRECT REALTY LTD.
Visit REALTOR website for additional information. Welcome to this solid all-brick bungalow offering incredible versatility and income potential in a prime location! Featuring a legal accessory apartment, this property is ideal for investors or homeowners looking to offset their mortgage with rental income. The main floor is currently tenanted and offers a bright, spacious layout with a generous living room, an eat-in kitchen, three well-sized bedrooms, and a full bathroom perfect for comfortable everyday living. The lower level features a separate entrance to a fully self-contained unit, currently vacant and ready for your next tenant or personal use. This space includes a large eat-in kitchen, cozy living room, two bedrooms with oversized windows providing plenty of natural light, and a full bathroom. Additional highlights include a shared laundry and storage area, a durable metal roof, and a furnace and central air system updated in recent years for added peace of mind. Situated on a deep lot, the backyard offers exciting potential for future expansion, whether you're considering an addition or exploring development opportunities. Located in a fantastic area close to LHSC, downtown, shopping, dining, and with easy highway access, this is a rare opportunity to own a flexible, income-generating property in a highly convenient location.
Estimate your monthly payments for this property
Estimated Payment
$3,590.85/mo
Includes CMHC insurance ($19,527)
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 South
London South 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 South
- •Convenient location in London South
- •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 South 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.
712 Chester Street, London South
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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 $636/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 45 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.
Detached Home Advantages
Detached homes in London South are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
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 South.
Investment Perspective
Looking at this as an investment: London South properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,916 (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.