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For sale
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$359,900

Est. $1,686/mo mortgage

0bd·0ba·2,500-3,000sqft

1042 Dearness Drive · London South, N6E 1N7

MLS® X13478680

94 days on market94 days on market

Listed Jun 23, 2026

Listing courtesy of Initia Real Estate (ontario) LTD·Updated Aug 24

Description

Rare opportunity to acquire a generously sized residential lot in desirable South London. This spacious property measures 45.16 x 198.48 feet, offering exceptional depth and flexibility for future development. Ideally located close to major highways, shopping centres, schools, parks, and other everyday amenities, providing both convenience and strong long-term value. The lot presents excellent potential for builders, investors, or end users looking to construct a detached home or explore the possibility of a multi-family residential dwelling for rental income (subject to municipal approvals). With its large lot size and prime location, this property offers numerous possibilities to design and build a custom residence or income-generating property in a growing and well-connected area of South London. A great opportunity to secure land in a sought-after neighbourhood with strong future potential. Buyer to perform their own due diligence regarding zoning, permits, and development possibilities.

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Property details

Interior

Size
2500-3000 sqft

Building & lot

Type
Vacant Land, Other
Age
New
Lot size
45.16 × 196.65 ft · < .50 acres
Exterior
Brick
Foundation
Poured Concrete
Water & sewer
Sewer

Parking

Garage
2 car
Parking
4 spaces

Location & neighbourhood

Directions
Westminster

London South, ON

Expansive southeast neighbourhood with diverse housing, numerous schools, and Wellington Road access.

Monthly paymentest. $2,228/mo all in

Monthly payment estimate

Mortgage (5.07%, 25yr)$1,686
Property tax$217
Insurance (est.)$75
Utilities (est.)$250
Total monthly$2,228
Land transfer tax$3,874 on closing

Ontario LTT

$3,874

First-time rebate

$3,874

First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.

Price & listing history

$359,900

Listed Jun 23, 2026

On the market

Earlier listings for this property are shown to registered users under our VOW agreement with LSTAR.

Affordabilityneeds $91,000 household income

Minimum household income required

$91,000

Based on 20% down, a 7.07% qualifying rate (the 5.07% contract rate plus two points), 25 year amortization and a 32% GDS ratio. Rounded to the nearest thousand.

Not sure about financing? Ask Colin

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Your advisor

Oak and Key Real Estate Brokerage Inc.

Colin Abbot

Broker

519-859-4579 · colin@searchlondonhomes.com

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