587 Lambton Street
London East, ON
- 3 bed
- 3 bath
- approx. 2000-2500 sqft
- Detached
- 4 days on market
LOCATED AT ADELAIDE / LAMBTON, HIGH TRAFFIC COUNT WITH EXCELLENT COMMERCIAL/RESIDENTIAL USE. Unique freehold mixed-use opportunity in a great London location! This versatile property offers a combination of commercial space, residential income and additional living flexibility, all on one property. The upper level features a bright 2-bedroom apartment with a full 4-piece bathroom, updated kitchen finishes and refinished hardwood floors, currently rented and providing immediate income. The main floor offers flexible office space with two separate office/flex areas, a kitchenette and 2-piece bathroom, making it ideal for a business owner or professional office. Finished basement offering additional living space with an existing kitchen area and plumbing in place, providing potential for future use. Basement has not been rented in many years. Buyer to verify continued use. Situated on a property with 8 on-site parking spaces accessible off of Lambton Street, this building offers exceptional flexibility for an owner-user, investor or entrepreneur looking to combine residential and commercial uses. Additional updates include a metal roof and eavestroughs (2020/21), two owned hot water tanks (2020), newer front door, dedicated bell fibre optic line and various updates throughout the home. The property is equipped with two furnaces, with one serving the main and lower levels and the other dedicated to the upper-level apartment. Double-brick construction with additional insulation provides excellent sound separation, making the interior remarkably quiet. Zoned OC5/R2-2, offering a range of permitted uses. A rare opportunity to own a flexible mixed-use property with multiple potential revenue streams.
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Listing Details
- Taxes (2026)
- $10,144
- Listed
- September 17, 2026
Price History
Listing history
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Property
- Style
- 2-Storey
- Age
- 51-99
- Construction
- Brick
- Roof
- Metal
- Foundation
- Concrete Block
- Interior
- Water Heater Owned
- Lot Size
- 48.85 x 143.71 Feet
Parking
- Garage
- None
- Covered Spaces
- 0
- Total Parking
- 8
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- Lambton / Adelaide
- Zoning
- OC5 R2-2
- Parcel Number
- 082320036
- Possession
- Flexible
- Occupancy
- Owner
Included
- Inclusions
- All existing: Washer, dyer, fridge, stove, fridge in basement, stove in basement, all window coverings, two owned hot water heaters
- Exclusions
- None.
- Rental Items
- None.
Schools
Elementary
- St Michael Separate School0.6 km
Catholic · London District Catholic School Board · 425 students
Grade 3 reading: 76% met the provincial standard · Grade 6 math: 53% met the provincial standard
- Northbrae Public School0.8 km
Public · Thames Valley DSB · 465 students
Grade 3 reading: 38% met the provincial standard · Grade 6 math: 31% met the provincial standard
- Old North Public School0.9 km
Public · Thames Valley DSB · 465 students
Grade 3 reading: 87% met the provincial standard · Grade 6 math: 86% met the provincial standard
Secondary
- École secondaire catholique Monseigneur-Bruyère1 km
French Catholic · Conseil scolaire catholique Providence · 245 students
Grade 10 literacy: 93% met the provincial standard
- London Central Secondary School2.3 km
Public · Thames Valley DSB · 955 students
Grade 10 literacy: 91% met the provincial standard
- Catholic Central High School2.4 km
Catholic · London District Catholic School Board · 1310 students
Grade 10 literacy: 89% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area N5Y
- Population
- 35,934
- Private dwellings
- 16,194
- Median age
- 35.6
- Average household size
- 2.3
- Median household income
- $63,600
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Residential Freehold in London East · last 12 months
- Median sold price
- $460,000
- Homes sold
- 1,322
- Median days on market
- 25
- Sale-to-list price
- 97.0%
Based on 1,322 recorded sales of residential freehold properties in London East over the last 12 months.
Rooms
2-piece on Main, 3-piece on Basement, 4-piece on Second
Second
- Bedroom14'9" x 11'2"
- Bedroom 212'5" x 11'5"
- Dining Room8'2" x 13'4"
- Kitchen15'3" x 10'1"
- Living Room12'3" x 13'4"
Main
- Bathroom5'1" x 5'1"
- Bathroom4'9" x 7'9"
- Office12'4" x 11'5"
- Office12'3" x 11'4"
- Other
- Other3'8" x 6'5"
Basement
- Bathroom5'10" x 5'5"
- Bedroom 314'3" x 10'9"
- Laundry15'8" x 10'2"
- Recreation21'11" x 11'
- Utility Room20'7" x 11'1"
Listed by
RE/MAX CENTRE CITY REALTY INC.
Walk Score
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Location
Street View
Mortgage Calculator
$172,980
Estimated Monthly Payment
$4,249
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
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Mortgage: $4,249/mo (20% down, 5.5%)
Taxes: $845/mo · Insurance: $216/mo
Estimates only. Consult a financial advisor.
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