$1,700,000
For sale: Vacant Land

Being sold under Power of Sale AS IS, WHERE IS. Vacant, unimproved lot in great location in south east quadrant of the City of London, accessible to arterial roads as well as highways, including 401.Lot is approximately 1.5 acres redevelopment site, approved for a total of 34 townhouses, stacked, in sets of 3. The site is designated as "Neighbourhood" under the Official Plan and classified as R5-7 (32) under the Zoning By-Law. A Site Specific Zoning By-Law Amendment was granted to build 3 sets of 3 story stacked townhouse buildings containing a total of 34 dwellings. Full Municipal services available at lot line, including water, sewers, storm, natural gas, hydro, telephone and cable. Great opportunity. Buyer to do own due diligence.
Sold data
Vacant Land homes in London East (East O) took a median of 33 days to sell over the last 365 days, with the quickest quarter selling within 15 days and the slowest quarter taking more than 68, across 64 recorded sales.
That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 62 days.
The median sale price was $649,900.
Homes sold for about 2.1% below asking on average, so there was room to negotiate.
About 11% of sales closed above the list price.
Around 17% of sellers reduced their price before finding a buyer.
Based on 64 recorded sales in the last 1 year — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.
Schools
London East (East O) has 116 Fraser Institute–rated schools (97 elementary and 19 secondary), averaging 5.5/10.
School ratings from the Fraser Institute's Ontario school report cards.
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