1408 ERNEST AVENUE
London and St. Thomas · N6E3B2
$3,900,000
About this residence
An exceptional 1.029-acre infill development site in Londons White Oaks neighbourhood, recently re-zoned Residential R8-4, and approved for a wide range of medium-density residential uses including stacked townhouses, low-rise apartments, and converted dwellings.The property features an existing vacant two-storey commercial structure, approved for conversion into an 18-unit residential apartment building (44 units per hectare) with a flexible mix of 1-bedroom, 1+den, and 2-bedroom layouts. Approx. 12,950 ft2 of existing building space and 64 on-site parking stalls - with access via a shared private laneway - support a streamlined, low-cost redevelopment path. No Site Plan Control is required for the current approved conversion, reducing timeline and permitting barriers.Strategically located near transit, shopping, parks, schools, and employment hubs, this site offers strong tenant appeal and long-term upside in a corridor targeted for growth. Positioned between an established residential area and a neighbourhood commercial node, the site delivers natural transition, walkability, and policy-aligned density.Property is currently vacant and uninsured. Data room access with a signed CA. (id:61366)
Property details
- Property type
- Multi-family
- Style
- Multi-Family
- Living area
- 14,773 sq ft
- Lot size
- 168 x 266 FT
- Frontage
- 168 feet
- Annual tax
- $49,380
- MLS®
- X12353331
- Board
- London and St. Thomas
- Status
- Inactive
- Listed
- Aug 19, 2025
- Updated
- Aug 21, 2025
Features & finishes
Heating
- Forced air
- Natural gas
Cooling
- Fully air conditioned
Lot
- Elevator
Financing
Estimated monthly payment
$18,239/mo
Loan amount
$3,120,000
Down payment
$780,000
Estimate only. Rates and terms vary by lender and qualification.
Powered by Lenderoo.caLocation & area
London and St. Thomas
Nearby
About the area
Census · N6E- 28,140
- Population
- 38
- Median age
- $75,000
- Median income
- $420,000
- Median home value
- 69%
- Home ownership
- 22 min
- Avg. commute
Age distribution
Tenure
Neighbourhood statistics for the property’s forward sortation area. Figures are census-derived estimates.
Powered by Neighbourly.ioFrequently asked questions
What is the asking price for 1408 ERNEST AVENUE?
1408 ERNEST AVENUE is listed for $3,900,000, in London and St. Thomas.
What type of home is 1408 ERNEST AVENUE?
1408 ERNEST AVENUE is a Multi-family, Multi-Family.
How large is 1408 ERNEST AVENUE?
The home offers approximately 14,773 sq ft of living space on a lot measuring 168 x 266 FT.
What would the monthly mortgage payment be?
With a 20% down payment at a 5.0% interest rate over a 25-year amortization, the estimated monthly payment is about $18,239. Use the mortgage calculator above to model your own scenario.
What are the annual property taxes?
Property taxes are approximately $49,380 per year.
What is the London and St. Thomas area like?
London and St. Thomas has a population of about 28,140, a median age of 38, a 69% home-ownership rate, with an average commute of about 22 minutes.
What is the average home value in London and St. Thomas?
The median dwelling value in this area is approximately $420,000, based on census data via Neighbourly.
What is the median household income in London and St. Thomas?
The median household income in this area is approximately $75,000.
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