587 Lambton Street, London East, ON N5Y 4G1
East B, London East · Near Lambton / Adelaide · View map
About this home
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.
The home
- Type
- 2-storey detached home
- Style
- 2-Storey
- Square footage
- 2000-2500 sq ft
- Bedrooms
- 2
- Basement bedrooms
- 1
- Bathrooms
- 3
- Kitchens
- 1
- Rooms
- 8
- Basement
- Finished
- Lot size
- 48.9 x 143.7 ft
- Faces
- South
- View
- City
- Approximate age
- 51-99 years
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
- Exterior
- Brick
Heating & cooling
- Heating fuel
- Gas
- Heating type
- Forced Air
- Air conditioning
- Central Air
- Fireplace
- No
Garage & parking
- Driveway spaces
- 8
- Total parking
- 8
Taxes & other
- Property taxes
- $10,144/yr
- Tax year
- 2026
- Occupancy
- Owner
- Possession
- Flexible
- Cross street
- Lambton / Adelaide
- Neighbourhood
- East B
More
- Price per sq ft
- ~$384 (at 2,250 sq ft)
- MLS® number
- X13798490
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The home and its surroundings
- Water Heater Owned
- Public Transit
- School
- Mortgage
- Property tax
- Maintenance fee
Cash needed to close
Estimates only, using Canadian semi-annual compounding, Ontario land transfer tax. Mortgage default insurance is added when you put down less than 20%. Your lender and lawyer will confirm exact numbers.
587 Lambton Street, London East, ON N5Y 4G1
East B, London East · Near Lambton / Adelaide
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Listing history for 587 Lambton Street
See what this home and others at the same address were listed for, what they sold for, and how long it took.
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Frequently asked questions about 587 Lambton Street
Answers come straight from this home’s MLS® listing.
How much is 587 Lambton Street listed for, and what would it cost each month?
587 Lambton Street is listed for $864,900. With 20% down ($172,980), the mortgage payment would be roughly $3,489 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $4,334 a month, all in. That figure is an illustration, not a quote.
Is 587 Lambton Street freehold or a condo, and is there a monthly fee?
587 Lambton Street is a 2-storey detached home in East B, London East. Ownership is freehold: you own the home and the lot. There is no monthly condo fee, so the roof, windows, driveway, snow and lawn are yours to look after.
How many bedrooms and bathrooms does 587 Lambton Street have?
587 Lambton Street has 2 bedrooms, plus 1 more bedroom in the basement, and 3 bathrooms.
Does 587 Lambton Street have a garage and parking?
The listing does not show a garage. The driveway adds 8 spaces. In total the listing counts 8 parking spaces.
Does 587 Lambton Street have a finished basement?
The listing describes the basement as finished. It counts 1 bedroom on that level. Finished basement space is usually not counted in the square footage shown.
What style of home is 587 Lambton Street?
587 Lambton Street is a 2-storey detached home. A 2-storey detached house has its living space on the main floor and the bedrooms upstairs, on its own lot with no shared walls.
How big is 587 Lambton Street, and what is the lot size?
The listing puts the home between 2,000 and 2,500 sq ft. The board reports a range rather than an exact figure, and it usually leaves out the basement. The lot is listed as 48.9 x 143.7 ft.
How is 587 Lambton Street heated and cooled?
Heating is forced air (gas). Cooling is central air.
What are the property taxes for 587 Lambton Street?
Property taxes are $10,144 a year (2026), or about $845 a month.
Where is 587 Lambton Street?
587 Lambton Street is in the East B community of London East. The nearest main intersection is Lambton / Adelaide. The postal code is N5Y 4G1.
Is 587 Lambton Street still for sale?
Yes. It is an active listing (MLS® X13798490). Listings here update from the board through the day and come down once a home sells.
What are similar detached homes near 587 Lambton Street asking?
Similar detached homes for sale nearby right now include 941 Waterloo Street at $855,000 (3+1 bed), 12 Clenray Place at $899,000 (3 bed) and 837 Wellington Street at $799,900 (3 bed). These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 587 Lambton Street sold for?
Recent sales, leases and expired listings for this home and others at the same address are in the Sold history tab, with the price and date of each. It is free for members.
How do I book a showing at 587 Lambton Street?
Pick a day and time with Book a Tour on this page. Tours are free, with no obligation, in person or by video. You can also call or text 647-931-3923.
Have a different question? Ask about this home and get an answer, usually within the hour.
Similar detached homes nearby
More detached homes for sale near East B, picked by style, size and price.
2-storey detached home$855,000941 Waterloo Street, London East3+1 bed · 3 bath · East BCourtesy of: KELLER WILLIAMS LIFESTYLESView home →
2-storey detached home$899,00012 Clenray Place, London East3 bed · 3 bath · East BCourtesy of: SUTTON GROUP - SELECT REALTY INC.View home →
2-storey detached home$799,900837 Wellington Street, London East3 bed · 4 bath · East BCourtesy of: THRIVE REALTY GROUP INC.View home →Courtesy of: RE/MAX CENTRE CITY REALTY INC.
Listing information comes from the Toronto Regional Real Estate Board through PropTx and is deemed reliable but is not guaranteed accurate. It is provided for consumers' personal, non-commercial use. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
*Estimated monthly cost assumes 20% down, a 4.5% rate and a 30-year amortization, plus property tax. For illustration only.