$359,900
Est. $1,686/mo mortgage
1042 Dearness Drive · London South, N6E 1N7
MLS® X13478680
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
DirectionsLondon South, ON
Expansive southeast neighbourhood with diverse housing, numerous schools, and Wellington Road access.
Monthly paymentest. $2,228/mo all in
Monthly payment estimate
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
Listed Jun 23, 2026
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.
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Your advisor
Oak and Key Real Estate Brokerage Inc.
Colin Abbot
Broker
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