6 Gower Street · London, N6H 2E6
MLS® X14152220
Listing courtesy of Royal Lepage Flower City Realty·Listing last changed 7 hours ago
Key facts
- Property type
- Detached
- Square footage
- 700-1,100 sqft
- Lot size
- 37 × 120 ft
- Parking
- 4 spaces
- Property tax
- $5,060/yr (2026)
Description
INVESTOR ALERT! INCOME-GENERATING STUDENT RENTAL WITH FUTURE DEVELOPMENT POTENTIAL!Excellent investment opportunity in London! Walking distance to university and public transit.This solid brick corner-lot bungalow offers an attractive combination of established rentalincome, a City of London rental license and potential for future income expansion.Featuring 5 bedrooms, this property is ideally suited for student accommodation. The main flooroffers a spacious eat-in kitchen, bright living room with wood-burning fireplace, 2 generouslysized bedrooms and a 3-piece bathroom. The finished lower level features a separate entrance, 3additional bedrooms, family room, 3-piece bathroom, utility room, laundry and ample storagespace.CITY-LICENSED RENTAL PROPERTY! Previously inspected by the City inspector and Fire Department.Equipped with interconnected, hardwired smoke and carbon monoxide alarms on both levels.PROVEN RENTAL COLLECTIONS:May 2024 - April 2025: $42,535May 2025 - April 2026: $37,270FUTURE DEVELOPMENT POTENTIAL! Following the 2023 City of London zoning by-law changes, theproperty may qualify for a detached garden suite, offering an opportunity to generateadditional rental income, subject to municipal approvals and permits.Additional highlights include a roof replaced in 2024, concrete parking pad and a spaciousbackyard.Whether you are looking to expand your student rental portfolio or maximize returns throughfuture development, this property offers excellent investment potential!DON'T MISS THIS OPPORTUNITY TO OWN AN INCOME-PRODUCING PROPERTY WITH ROOM TO GROW!
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Property details
Interior
- Size
- 700-1,100 sqft
- Bedrooms
- 3 above grade, 3 lower level
- Rooms
- 4 rooms
- Bathrooms
- 1 × 3-piece on Main, 1 × 3-piece on Lower
- Basement
- Separate Entrance
- Heating
- Forced Air
- Cooling
- Other
Building & lot
- Type
- Detached, Bungalow
- Lot size
- 37 × 120 ft
- Exterior
- Brick
- Foundation
- Poured Concrete
- Roof
- Asphalt Shingle
- Water & sewer
- Sewer
Parking
- Driveway
- Private (4 spaces)
- Parking
- 4 spaces
Fees & taxes
- Property tax
- $5,060/yr (2026)
Rooms
Main
- Living Room, window, hardwood floor, fireplace
- 5.15 × 3.5 m
- Kitchen, window, vinyl floor
- 4.2 × 3.5 m
- Bedroom 3, window, closet, hardwood floor
- 3.9 × 2.56 m
- Bedroom 2, window, closet, hardwood floor
- 3.71 × 3.56 m
Basement
- Bedroom, window, closet, broadloom
- 3.9 × 2.59 m
- Common Room, window, broadloom
- 3.35 × 3 m
- Bedroom, window, broadloom
- 3.3 × 2.98 m
- Bedroom, window, closet, broadloom
- 3.84 × 3.44 m
Estimated value range
$569K to $629K
An automated range from recent comparable sales nearby. It is not an appraisal and says nothing about whether this home is priced correctly; condition, finishes and timing are outside what it can see.
Based on a model of 13,409 London sales through September 2026; it lands within 10% of the sold price on 64% of homes. Shown within 5% of the asking price.
Location & neighbourhood
DirectionsLondon North, ON
Small historic neighbourhood along the Thames River west of downtown with heritage homes.
Schools nearbyclosest is Jeanne-Sauvé Public School, 360 m
Elementary
- 7.1
Jeanne-Sauvé Public School
360 m · Grades JK-8
Thames Valley District School Board
- 6.0
Eagle Heights Public School
700 m · Grades JK-8
Thames Valley District School Board
- 7.8
University Heights Public School
1.1 km · Grades JK-8
Thames Valley District School Board
Secondary
- 8.0
London Central Secondary School
1.9 km · Grades 9-12
Thames Valley District School Board
- 5.7
Catholic Central High School
2.4 km · Grades 9-12
London District Catholic School Board
- 5.3
H B Beal Secondary School
2.8 km · Grades 9-12
Thames Valley District School Board
Distances are straight-line from this address. School boards set their own attendance areas and do not publish them, so a school listed here is not a guarantee of placement. Confirm with the board before you rely on it.
Monthly paymentest. $3,603/mo all in
Monthly payment estimate
Land transfer tax$8,455 on closing
Ontario LTT
$8,455
First-time rebate
−$4,000
First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.
Price & listing history
Listed today
Sold comparables nearby
Sold340 Riverside Drive, London North
Sold333 Astoria Court, London North
See what these 6 homes sold for
Create a free account to see sold prices and comparable sales.
Market conditionsBalanced market in London
5.9 months of inventory: supply and demand are roughly balanced. Nearby, 6 sales in the last 90 days went for an average of 97.1% of asking.
Avg. sold price
$538,000
Sale-to-list ratio
97.1%
Based on 6 recent comparable sales near this home.
Affordabilityneeds $148,000 household income
Minimum household income required
$148,000
Based on 20% down, a 7.07% qualifying rate (the 5.07% contract rate plus two points), 25 year amortization, this home's listed property tax and a 32% GDS ratio. Rounded to the nearest thousand.
Not sure about financing? Call Colin at (226) 212-5099 or text
Rental market$2,400/mo median for 3 bed nearby
$2,400/month is the median rent for 3-bedroom homes leased within 3km over the past 12 months, across 58 leases.
What comparable homes actually leased for, not an estimate of what this one would rent for. Rent depends on condition, finishes and timing in ways this figure cannot see.
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Colin Abbot, Broker
Oak and Key Real Estate Brokerage Inc., Brokerage, 490 Melcrest Road, London, ON N6J 3T1, Phone: (226) 212-5099
Not intended to solicit clients already under contract.
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