Rental of the Week: $3,500 per month for a loft in a former church near Dufferin Grove

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Published on: January 17, 2017

Address: 701 Dovercourt Road, Unit 303
Neighbourhood: Dufferin Grove
Agent: Laleh Rouhani, Right At Home Realty Inc., Brokerage
Price: $3,500 per month

The place

A two-level, two-bedroom apartment with a rooftop terrace, built inside a century-old church building.

Here’s the kitchen:

toronto-apartment-for-rent-701-dovercourt-road-2

The master bedroom, with skylights and exposed steel trusses:

toronto-apartment-for-rent-701-dovercourt-road-4

And the rooftop terrace:

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The history

The unit is on the third and top floor of what used to be Centennial Methodist Church. In 2009, Bernard Watt Architects transformed it into 28 lofts, with balconies and modern windows tucked into the church’s nooks and crannies. The renovation maintained many of the church’s original features, including exposed brick walls, vaulted ceilings, wooden doors and steel trusses. This unit’s landlord, who is also the listing agent, bought the suite pre-construction in 2007. She asked the developer to install a fireplace and shower in the bathroom on the first floor, and to knock down the second bedroom’s sliding door to create an open floor plan. She moved in two years later and lived here until 2014, when she decided to rent the unit out.

Major perk

The unit has two skylights, which flood the place with light. With stained glass windows and 19-foot sloped ceilings, the living and dining area will feel bright and roomy even when full of guests.

Possible deal breaker

The lack of windows in the second bedroom makes it the only space in the apartment that could feel a little bleak:

toronto-apartment-for-rent-701-dovercourt-road-3

By the numbers

• $3,500 per month
• 984 square feet
• 19-foot ceilings
• 2 bedrooms
• 2 bathrooms
• 2 skylights
• 1 fireplace
• 1 parking space
• 1 rooftop terrace
• 1 balcony

Article source: http://torontolife.com/real-estate/condos/toronto-condo-for-rent-701-dovercourt-road/

Sale of the Week: The $2.3-million Casa Loma five-plex

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Published on: January 17, 2017

Address: 36 Austin Terrace
Neighbourhood: Casa Loma
Agent: Valérie Benchitrit and Josie Stern, Sutton Group Associates Realty Inc., Brokerage
 
 
 

The property

An older home, split into five rental-ready units.

There’s a nice big porch out front:

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The owner’s suite takes up the entire main floor. Here’s the living room:

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The dining room:

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And the kitchen:

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There are three bedrooms in the owner’s suite. Here’s one:

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And another:

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There’s also a sunroom, which faces the backyard:

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The second floor is split into two rental suites. Here’s the living room in one of them:

toronto-house-sold-36-austin-terrace-9

And the modest kitchen:

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And the bedroom, with fireplace:

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Here’s the living room in the other second-floor suite:

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The kitchen, with balcony access:

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And the bedroom:

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There’s a loft suite on the third floor:

toronto-house-sold-36-austin-terrace-15

It has its own rooftop deck:

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And there’s another suite in the basement:

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Plus a fairly roomy backyard:

toronto-house-sold-36-austin-terrace-18

The history

The house is about 95 years old, and has been a multi-unit income property for decades, at least. The seller lived in the owner’s suite. He waited for all his tenants to wrap up their leases before putting the property on the market.

The fate

The buyers have plans to do some substantial renovations. They’ll likely keep the house split into several rental units.

The sale

There were no open houses because the house was tenanted, but there were many showings. Some potential buyers were contemplating the possibility of converting the place back into a single-family home. Though there were several offers, the buyers’ offer was the highest, and it was unconditional, so it won out.

By the numbers

• $2,300,000
• $9,051.13 in taxes (2016)
• 3,185 square feet
• 1,135-square-foot basement
• 22 days on MLS
• 5 units

Article source: http://torontolife.com/real-estate/houses/toronto-house-sold-36-austin-terrace/

Condo of the Week: $690,000 for a stylish suite high above Leslieville

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Published on: January 13, 2017

Address: 319 Carlaw Avenue, Unit 1006
Neighbourhood: Leslieville
Agent: Ara Mamourian, Spring Realty Inc., Brokerage
Price: $690,000
Previously sold for: $530,442, in 2012

The place

A modern two-bedroom suite on the 10th floor of a building at Dundas and Carlaw.

There’s a small nook near the entrance that can serve as a den:

toronto-condo-for-sale-319-carlaw-avenue-2

Here’s the kitchen:

toronto-condo-for-sale-319-carlaw-avenue-3

The dining area:

toronto-condo-for-sale-319-carlaw-avenue-4

And the living area:

toronto-condo-for-sale-319-carlaw-avenue-5

The master bedroom has a balcony view:

toronto-condo-for-sale-319-carlaw-avenue-7

And an ensuite bathroom:

toronto-condo-for-sale-319-carlaw-avenue-8

The history

In the five years since this building was finished, hundreds of other condos have been added to this rapidly densifying corner. Former industrial buildings have been repurposed as coffee shops, arts venues and yoga studies.

Big selling point

A wide balcony runs the whole length of the unit, offering northeast views over Greenwood Park. A parking lot beneath the balcony is owned by a developer and could sprout new housing at some point in the near future—but the agent said he expects low-rise townhomes that won’t block the vista:

toronto-condo-for-sale-319-carlaw-avenue-9

Possible deal breaker

There’s no walk-in closet in the master bedroom, but, oddly, there is one in the second bedroom (sadly, the sellers will be taking their massive CD collection with them):

toronto-condo-for-sale-319-carlaw-avenue-6

By the numbers

• $669,000
• 1,034 square feet
• $587 in monthly maintenance fees
• 2 bedrooms
• 2 bathrooms
• 2 storage lockers
• 1 parking space
• 1 den with built-in desk
• 1 balcony

Article source: http://torontolife.com/real-estate/condos/toronto-condo-for-sale-319-carlaw-avenue/

The Chase: Fed up with her condo, she went in search of a house for one

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Published on: January 12, 2017
Charlotte Lombardo Charlotte Lombardo

 Portrait by Erin Leydon

The buyer: Charlotte Lombardo, a 41-year-old part-time 
lecturer at U of T and a PhD student in environmental studies at York.

The story: Lombardo’s Corktown condo building was overrun with millennials, and their loudness was a source of irritation. She crunched some numbers and realized that,
 if she sold her condo for around $400,000 and got a low-interest mortgage, she could afford to spend up to $650,000 on a new place. She wanted a move-in-ready house in the east end, preferably in Leslieville, and she wouldn’t be living with anyone else, so a one-bedroom would be fine.
 
 

Option 1

option1
Craven Road (near Coxwell and Gerrard). Listed at $499,000, sold for $670,000
Lombardo’s agent insisted this two-
bedroom was a good buy because of its recent kitchen renovation. Even so, 
Lombardo wasn’t so sure the price was justified. The second bedroom was small and didn’t have a proper closet, and the revamped kitchen’s dark wood cabinets made it seem dated. She got as far as filling out the offer paperwork before deciding the place wasn’t worth half a million.

Option 2

option2
Logan Avenue (near Eastern). Listed at $549,000, sold 
for $711,000
This two-bedroom semi met all the criteria: it was in Leslieville and the price was right. Lombardo jumped headfirst into a nine-way bidding war, offering $660,000 in the first round and $686,000 in the second round—an amount she wouldn’t have been able to pay without a gift from her parents. She 
was disappointed when she lost the place and she wondered if she should have been more aggressive.

The Buy

the-buy
Cavell Avenue (near Danforth and Pape). Listed at $499,000, sold 
for $626,000
Lombardo was checking online listings when she noticed this one-bedroom semi. It had been a two-bedroom, but the seller had knocked down some walls on the main floor to create an open interior. Lombardo visited and was immediately drawn to the wood ceilings, brick walls and floating staircase. Plus, the lot was big enough for an addition in case she ever needed to expand. Fearing a repeat of the Leslieville brawl, she offered $177,000 over asking, which scared off the two other bidders.

Article source: http://torontolife.com/real-estate/houses/chase-fed-condo-went-search-house-one/

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