The Perfect End User Home - 961 Lansdowne
The Perfect End User Home!
Looking for a spacious, luxurious home in a prime location? Look no further than 961 Lansdowne Ave, Toronto! This semi-detached gem offers 3 storeys, 5+1 bedrooms, 4 bathrooms, a 2-car garage, a basement apartment and 2569 square feet of living space. This stunning property is a must-see.
This property offers its new owner plenty of flexibility. It is a great end user home with a basement rental that is perfect for short term or long term stays for extra income, while the top 3 three floors is move-in ready and boasts 5 bedrooms for your growing family! It even has its own laundry on the main floor so you don’t need to share it with your basement tenant. If you are looking for extra income to pay down the mortgage, this property can build an approximately 775 sqft laneway house that would be a perfect 2 bed 1 bath home.
Alternatively, this can also be a gorgeous triplex. With the basement ready to go, and the main floor in excellent condition with a full kitchen and a rare full bath. All you would need to do is put up two extra walls to create a bedroom. I would put the bedroom in the front of the house, and the little addition in the front can act as a home office (check the listing!). I would have the main floor main entrance come in from the back of the home, while the upstairs 2nd/3rd storey would enter from the front.
Since there are already 5 bedrooms located on the top 2 floors, you can remove two bedrooms to create a kitchen and living room. I think leaving the 3 bedrooms on the 2nd floor intact and turning the whole 3rd floor into an open concept kitchen living room and a rooftop deck. This would make a highly desirable owners suite or a show stopping rental!
Lastly, you can build a 775 sqft laneway house on this property. This isn’t a must if you need parking as finding street parking on Lansdowne can be difficult. However, if parking isn’t a necessity, getting the extra rental space can bring in a lot of extra income, offsetting your living costs even more. You will likely be able to get a small 2 bedroom into this space or a fairly large 1 plus den.
Currently listed at $1.629M, I think this is a bit overpriced since it is located on the busy street of Lansdowne, just south of Dupont. If this house was situated on a quiet street in the area, I think the list price would be a lot more accurate. Though, being on the busy street, I feel a purchase price of around 1.5M is more reasonable. This makes it a great opportunity for someone to get a lot of house with very little work to do, and to offset some of their housing costs or be a great investment property.
Overall, I love properties that offer flexibility. Being able to have this property as a single family home with a basement rental, or converting to a triplex and potentially adding a laneway house gives the buyer a ton of options. Furthermore, the neighbourhood is growing, and becoming more trendy each year. With Galleria On The Park being built just a block to the east, this will bring many more amenities and activities for the neighbourhood for years to come.
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