Mortgage Helper Opportunity! Welcome to 358 Simcoe Street, located in London's energetic and evolving SOHO district. Whether you're an investor looking for solid cash flow, a first-time buyer hoping to offset your mortgage, or someone wanting flexibility in a growing neighbourhood, this property checks the boxes. Currently generating $3,500 per month in rental income (Front 2-Bedroom: $2,000 / Back 1-Bedroom: $1,500), this home offers two self-contained living spaces designed for both function and comfort. The front unit features an updated kitchen complete with modern cabinetry, stainless steel appliances, a sleek tile backsplash, and a butcher block island that anchors the space beautifully. The open living area flows into a dining/rec space highlighted by soaring cathedral ceilings and exposed wood beams - creating warmth and character you don't often find. Two spacious bedrooms and a bright four-piece bathroom complete the layout. Step outside to a generous patio, perfect for relaxing or entertaining. The rear unit offers its own inviting charm, beginning with a cozy sunroom that leads into a well-sized kitchen and dining area. The living room features impressive ceiling height, creating an airy yet comfortable atmosphere. A large bedroom and three-piece bath make this space ideal for tenants or extended family. Outside, the surprisingly deep backyard includes a stone patio, ample green space, and a substantial storage shed - a rare find this close to downtown. Parking for up to five vehicles adds even more practicality. An exceptional opportunity in one of London's most promising neighbourhoods - whether you're building your portfolio or stepping into homeownership with added income potential, 358 Simcoe Street is worth a closer look.
Address
358 Simcoe Street
List Price
$484,000
MLS® Status
New
Expiration Date
2026-07-31
Property Type
Residential Freehold
Type of Dwelling
Detached
Style of Home
Bungalow
Transaction Type
Sale
Area
London East
Sub-Area
East K
Region
Middlesex
Bedrooms
3
Bedrooms (Total)
3
Rooms Above Grade
9
Bathrooms
2
Floor Area
1500-2000 Sq. Ft.
Lot Size Source
MPAC
Lot Depth
165
Lot Shape
Rectangular
Lot Size Units
Feet
Lot Width
39
Parcel Number
083190083
Parcel of Tied Land
No
Occupant Type
Tenant
Cross Street
Wellington/Horton
Approx. Age
100+ Years
MLS® Number
X12842376
Listing Brokerage
BLUE FOREST REALTY INC.
Basement Area
Unfinished
Postal Code
N6B 1J7
Posession Details
Flexible - Ignore the possession date
Parking
Private
Parking Places (Total)
5
Parking Spaces
5
Tax Amount
$3,319.00
Tax Year
2025
Site Influences
Hospital, Landscaped, Patio, Place Of Worship, Porch, Public Transit, River/Stream
Exterior Features
Patio, Porch, Landscaped
Interior Features
Accessory Apartment, In-Law Capability, Primary Bedroom - Main Floor, Separate Hydro Meter
Property Features
River/Stream, Hospital, Public Transit, Place Of Worship
Cable
Yes
Central Vacuum
No
Family Room
Yes
Hydro
Yes
Elevator
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Senior Community
No
Board Or Association
London and St. Thomas Association of REALTORS
Heat Source
Other
Heat Type
Radiant
Cooling Features
None
Construction Materials
Vinyl Siding
Direction Faces
North
Fireplace
No
Foundation Details
Concrete Block, Poured Concrete, Brick
Garage
No
Garage Type
None
Kitchens Total
2
Kitchens Above Grade
2
Pool Features
None
Roof
Asphalt Shingle
Tax Legal Description
PT LT 7 , N/E SIMCOE STREET , AS IN 932726 ; LONDON
Topography
Flat
Waterfront
No
Sewer
Sewer