549 Ridout St. N.
"The Blackfriars"
549 Ridout Street North
Units64
Floors10
Built1988
Registered as condos1988
Average MLS Selling Price 2023$409,000 (based on 4 MLS sales)
Average MLS Selling Price 2022$481,700 (based on 3 MLS sales)
Average MLS Selling Price 2021$364,800 (based on 5 MLS sales)
* Premiums for higher floors
* Premiums for some floor plans (e.g. corner units, larger floor plan, or more windows)
Amenities
Details:
“The Blackfriars” deserves top marks for its walkability score. It overlooks Harris Park to the west and to the south and southwest is “Labatt Park” (baseball) and “Ivey Park” (The Forks of the Thames). “Victoria Park” (skating, food festivals, music) is three block away to the east on the other side of Richmond Street.
“The Blackfriars” has four condos on the main and seven units on the 2nd to the 9th floors. Mostly two bedroom units with a small number of one bedroom units, three bedroom units and a few penthouses with extra features. An all brick exterior with underground parking. These two bedroom units do not have balconies and it is the units on the west side of the building that have the “Harris Park” views. Known two bedroom unit sizes are 1,170; 1,250; 1,255 and 1,344 square feet. One known condo fee in 2024 is $602.00 per month.
Let us talk, for a minute, about special assessments. That is the dark side of condos living which sometimes affect both older and newer condo buildings. Back in 2013 – 2014, this building had a fairly major special assessment. Over 1.3 million dollars was spent on renovations and refurbishments. Then in 2022 there was a $23,000 assessment on units here for an energy efficient window upgrade. New windows will be a good thing.
We note a low turnover rate in this building. A comment that surfaced in 2022 was that 80% of the units here are owner occupied. (seniors, retirees, young professionals). This takes on more meaning if one is aware of the statement made by Stats Canada in 2022 saying that 86% of London’s apartment condos are owned by Investors.
The bottom line is that this building has a number of good things going for it.
Property Manager
Arnsby 519-455-6080