196-198 Clarence Street, London East, ON N6B 2J7
East K, London East · Near Simcoe St. & Clarence St. · View map
About this home
196-198 Clarence Street consists of two separate lots and is fully approved and ready to build, with plans, permits and due diligence completed, making this a true shovel-ready 8-unit redevelopment opportunity. City of London housing incentives may provide a forgivable loan of up to $45,000 per qualifying unit, representing potential funding of up to $360,000, subject to program availability, eligibility requirements and municipal approval. Based on projected rents of $1,250 per unit, plus anticipated parking and locker income, the completed project could generate approximately $134,400 in annual gross revenue and projected NOI of approximately $108,920. At stabilization, this supports an estimated value of approximately $2,178,400 at a 5% capitalization rate or $1,815,333 at a 6% capitalization rate. Once completed and stabilized, the property may also qualify for CMHC MLI Select financing, subject to applicable program and lender requirements. The property is conveniently located near Downtown London, transit, employment, shopping and amenities. Complete plans and due diligence package are available upon request. All projections, incentives and financing opportunities are estimates only and should be independently verified by the purchaser.
The home
- Type
- Investment
- Square footage
- 0.136 sq ft
- Lot size
- 57 x 110 ft
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
Garage & parking
- Total parking
- None
Taxes & other
- Property taxes
- $2,245/yr
- Tax year
- 2026
- Occupancy
- Vacant
- Possession
- Immediate
- Cross street
- Simcoe St. & Clarence St.
- Neighbourhood
- East K
More
- MLS® number
- X13784218
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No features listed yet.
- 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.
196-198 Clarence Street, London East, ON N6B 2J7
East K, London East · Near Simcoe St. & Clarence St.
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Listing history for 196-198 Clarence 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 196-198 Clarence Street
Answers come straight from this home’s MLS® listing.
How much is 196-198 Clarence Street listed for, and what would it cost each month?
196-198 Clarence Street is listed for $739,999. With 20% down ($148,000), the mortgage payment would be roughly $2,985 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $3,172 a month, all in. That figure is an illustration, not a quote.
Is 196-198 Clarence Street freehold or a condo, and is there a monthly fee?
196-198 Clarence Street is a investment in East K, 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.
Does 196-198 Clarence Street have a garage and parking?
The listing does not show a garage. The listing does not include a parking space.
What style of home is 196-198 Clarence Street?
196-198 Clarence Street is an investment. Commercial property covers retail, office, industrial and investment buildings and businesses for sale or lease.
How big is 196-198 Clarence Street, and what is the lot size?
The lot is listed as 57 x 110 ft.
What are the property taxes for 196-198 Clarence Street?
Property taxes are $2,245 a year (2026), or about $187 a month.
Where is 196-198 Clarence Street?
196-198 Clarence Street is in the East K community of London East. The nearest main intersection is Simcoe St. & Clarence St.. The postal code is N6B 2J7.
Is 196-198 Clarence Street still for sale?
Yes. It is an active listing (MLS® X13784218). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 196-198 Clarence Street asking?
Similar properties for sale nearby right now include 225 Wellington Street at $600,000, 452 Horton Street at $599,900 and 356 RICHMOND Street at $549,000. These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 196-198 Clarence 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 196-198 Clarence 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.
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More properties for sale near East K, picked by style, size and price.
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Store w apt / office$549,000356 RICHMOND Street, London EastEast KCourtesy of: THRIVE REALTY GROUP INC.View home →Courtesy of: EXP REALTY
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.