474 Cheapside Street, London East
CHARM, CHARACTER & INCOME POTENTIAL! This beautifully maintained Old North bungalow offers the perfect blend of timeless Craftsman character and modern functionality. Original architectural details, including elegant millwork, decorative pillars separating the living and dining rooms, an original French door, and mosaic tile, preserve the home's historic appeal.Now registered and licensed as a legal duplex, this R1-4 zoned property features two self-contained units with separate hydro services, making it an exceptional opportunity for investors or owner-occupants looking to offset their mortgage with rental income. If a single-family home is preferred, the property can be easily converted back by reinstating the rear staircase. Extensive renovations completed in 2023 include the creation of a fully legal lower suite, updated mechanical systems, separate heating and cooling, ERV systems, and numerous capital improvements throughout. Located in the highly desirable Old North neighbourhood, the property is just minutes from Western University, St. Joseph's Hospital, downtown London, parks, schools, shopping, and transit. Whether you're looking for a turnkey income property, a mortgage helper, or a multi-generational living opportunity, this property offers outstanding flexibility in one of London's most sought-after communities. All measurements are approximate. See attachments for list of upgrades, and City of London Rental Licence. (id:1945)
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Property details for 474 Cheapside Street, London East
- Type
- Multi-family
- Style
- Bungalow
- Bedrooms
- 3
- Bathrooms
- 2
- Lot Size
- 32.3 x 130 FT
- Stories
- 1
- Basement
- Finished, Apartment in basement, Separate entrance, N/A, N/A, N/A
- Parking
- No Garage
- Heating
- Baseboard heaters, Electric
- Cooling
- Air exchanger, Wall unit
- Exterior
- Brick, Stucco
- Annual Taxes
- $4,991 (2026)
Nearby Listings Stat
Estimated price and comparable properties near 474 Cheapside Street
Active Listings
32
Min Price
$239,900
Max Price
$749,900
Avg Price
$502,800
Days on Market
51
days
Sold Listings
18
Min Sold Price
$199,900
Max Sold Price
$799,900
Avg Sold Price
$468,815
Days until Sold
58
days
Neighbourhood Census Data
London, Ontario
Population
545
Median Age
39.6
Median Income
$55,488
Dwelling Value
$349,257
Housing Tenure
Owners 93%
Renters 9%
Age Distribution
Dwelling Types
Commute Mode
Education Level
Housing Age
Commute Duration
Avg Household Size: 2.4
Pop. Density: 2,641.8/km²
Avg Shelter Cost: $1,376/mo
Owners with Mortgage: 61.9%
Owners Spending 30%+: 9.8%
Tenants Spending 30%+: 0%
English only: 89.9%
English and French: 9.2%
Median Household Income: $102,656
Median Employment Income: $50,688
Price History
Listed
August 6, 2026
by RE/MAX a-b Realty Ltd Brokerage
Current Price
$659,900
Type
Multi-family
For Sale