2-Storey, Brick and Siding Semi-Detached With 2 Illegal Units And A Separate Entrance to Basement!! Assigned

  • $940,000
  • 4 beds
  • 3 baths
  • 1307 sqft
Assigned
Just north of the Danforth on Donlands, you’ll find this incredible investment property! Wholetail, flip or rent — no matter how you look at it, you’re coming out ahead. Featuring 3+1 beds, 3 full baths (basement bathroom is roughed-in, as per Seller), a separate entrance to the basement, large storage shed in the yard, and a fully-finished (illegal) 2 bedroom unit on the second floor, this property is a true gem in an incredibly convenient area!! Walking distance from Danforth subway station, a short drive to downtown Toronto, the DVP and all possible amenities (schools, shopping, churches, grocery stores, night life, restaurants, etc) makes this the ideal rental/residential location. With no brick properties selling below $1,000,000 in the area, you truly can’t pass up our incredible semi-detached, 2-storey for only $940,000!!

We are selling our assignable purchase contract.

Closing is December 20th, 2021
*Please note: The Seller may be open to extending the closing date. This has only been verbally stated and is not written in the APS.*

**As per our APS, the Buyer agrees to assume the current tenant of the main floor unit (name disclosed in agreement) at the current monthly rate of $1200 (including utilities), as per the existing lease agreement.**

PROPERTY FEATURES
Please note: This property was originally a Single-Family Dwelling, however the Seller completed renovations in order to convert the second floor into a separate, second unit. No permits were obtained for any of the renovations completed, and the second floor unit has not been legalized by the City of Toronto. The Seller has also added a bedroom and has started adding an additional bathroom in the basement, with the intention of creating a third unit — once again, without permits.
  • 2-storeys
  • 3+1 bedrooms + main floor mudroom/den
    • 2 bedrooms are located in the Second Floor Unit
    • 1 bedroom + den are located in the Main Floor Unit
      • Den is currently not being utilized as a bedroom, and functions as more of a mudroom
    • 1 bedroom is located in the Basement Unit
  • 3 full bathrooms
    • 4-piece bathroom is located in the Second Floor Unit
      • This bathroom was updated 5-years-ago (as per Seller)
    • 4-piece bathroom is located in the Main Floor Unit
    • 3-piece rough-in bathroom is located in the Basement Unit (as per Seller)
  • Built in 1929 (renovated in 1990, as per MPAC)
  • Above grade: 1307 sq ft (as per MPAC)
    • First floor: 710 sq ft (as per MPAC)
    • Second floor: 597 sq ft (as per MPAC)
  • Basement: 566 sq ft (as per MPAC)
    • The mudroom and the bathroom are the only areas which still require finishing. Everything else is completed (as per Seller)
    • Bedroom
    • Partially finished bathroom
    • Separate entrance
    • Laundry area is located in the basement
    • Ceiling heights: (Buyer to verify all)
      • Bedroom: 6.047 ft
      • Tiled living area: 6.306 ft
      • Living area to duct 5.607 ft
      • Living area: 6.049 ft
    • Basement was underpinned 10-years-ago (as per Seller)
  • Separate entrances:
    • Front door opens to front hallway, shared between the Main Floor unit & Second Floor Unit
    • Walk-down basement door at the front of the property opens into the basement mudroom
    • Back door opens to the Main Floor Unit mudroom/den
  • Flooring: laminate, tile, poured concrete, hardwood, carpeting
  • All appliances will be included
  • Kitchen and flooring were both updated on the main floor 5-years-ago (as per Seller)
  • Kitchen added to the second floor 1-year-ago (as per Seller)
  • Electric fireplace on the second floor (Buyer to verify)
  • Water damage to second floor ceiling is from “eaves flooding” (as per Seller)
    • There are no current leaks, and only the cosmetic damage to repair (as per Seller)
  • 100 AMP breaker panel (was upgraded from knob & tube, as per Seller)
  • Hot water boiler is owned and was purchased used, installed 4-5 years ago (hot water radiators heat the property, as per Seller)
  • HWT is rented, and was installed in 2008 (as per Seller)
  • No central AC
  • Windows were updated 5-years-ago (as per Seller)
  • Roof was updated in July 2021 (as per Seller)
  • Backyard features a large shed, which was built 6-years-ago (as per Seller)
  • Detached garage was taken down to build the backyard shed, however there is no laneway to access the yard and it was not large enough to accommodate a vehicle (185 sq ft, as per MPAC)
  • On municipal services
  • No driveway
  • Street parking is available through the city (Buyer to verify)
  • Property taxes: ~$3800/year (Buyer to verify)
  • Lot size: 17.96 ft x 105 ft (as per MPAC)
  • Zoning: RS(f10.5;a325;d0.75*312) (as per MPAC)
    • The City of Toronto allows Secondary Suites within the RS zone, so long as it complies with the specific conditions associated with the reference number(s). (see HERE – clause 10.40.20.20) — Buyer to verify

UNIT BREAKDOWN
Second Floor Unit:

  • Currently vacant
  • 2 bedrooms
  • 1 full bathroom
  • Kitchen
  • Accessed through the front door
  • No laundry on the second floor

Main Floor Unit:

  • Currently rented for $1200/month, inclusive of utilities, on a lease which ends in 2023 (as per Seller)
  • 1 bedroom
  • 1 full bathroom
  • Kitchen
  • Accessed through the front door, or the back door
  • Laundry machines are currently located in the basement

PROPERTY NEEDS

  • Cosmetic updates
  • Finish the basement, if desired
  • Possibility to legalize the Second Floor Unit as a secondary suite (Buyer to verify)

 

Please click HERE for more pictures and information.

Price:
$940,000
Address:
Danforth Ave & Donlands Ave
Toronto, ON
Square Feet:
1307
Lot Size:
17.96 ft x 105 ft
Bedrooms:
4
Bathrooms:
3
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1929

Call 647-370-0820 for more details

Property Location