494 Summerhill Ave
Rosedale-Moore Park, Downtown Toronto, M4W 2E5
FOR SALE
$2,700,000
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6 + 1
BEDROOMS3
BATHROOMS2 + 1
KITCHENS12 + 3
ROOMSC9256725
MLSIDContact Us
Property Description
Exquisite legal duplex situated in one of Toronto's most prestigious neighborhoods, Rosedale. This exceptional property boasts three units two legal units currently tenanted on a month-to-month basis, and one non conforming unit, making it perfect for both investment opportunities and personal living. Nestled in the heart of Rosedale, this home offers unparalleled access to vibrant city life while providing a tranquil residential atmosphere. With separate entrances for each unit, this property ensures privacy and independence for all tenants and homeowners alike, accommodating a variety of living arrangements. Generate significant rental income from the two occupied units while enjoying the flexibility of utilizing the vacant unit for yourself or as an additional rental source. Substantial investments in property enhancements ensuring both comfort and efficiency. Entertain in style on the expansive 1300 sq ft rooftop patio.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-08-12 | 2024-08-15 | 3 | $2,959,000 | - | Terminated |
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Property Details
Street
Community
City
Property Type
Duplex, 2-Storey
Lot Size
33' x 120'
Fronting
South
Taxes
$12,582 (2024)
Basement
Apartment, Sep Entrance
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
2
Driveway
Mutual
Garage Type
Detached
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Downtown Toronto Market Statistics
Downtown Toronto Price Trend
494 Summerhill Ave is a 6-bedroom 3-bathroom home listed for sale at $2,700,000, which is $1,049,000 (28.0%) lower than the average sold price of $3,749,000 in the last 30 days (August 20 - September 18). During the last 30 days the average sold price for a 6 bedroom home in Downtown Toronto increased by $2,216,000 (144.6%) compared to the previous 30 day period (July 21 - August 19) and up $1,934,834 (106.7%) from the same time one year ago.Inventory Change
There were 30 6-bedroom homes listed in Downtown Toronto over the last 30 days (August 20 - September 18), which is up 87.5% compared with the previous 30 day period (July 21 - August 19) and down 28.6% compared with the same period last year.Sold Price Above/Below Asking ($)
6-bedroom homes in Downtown Toronto typically sold ($388,181) (10.4%) below asking price over the last 30 days (August 20 - September 18), which represents a $253,201 decrease compared to the previous 30 day period (July 21 - August 19) and ($333) less than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 6-bedroom homes in Downtown Toronto over the last 30 days (August 20 - September 18) stood at 36.7%, up from 31.2% over the previous 30 days (July 21 - August 19) and up from 14.3% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 6-bedroom 3-bathroom home in Downtown Toronto stood at 60 days when successfully sold over the last 30 days (August 20 - September 18), compared to 83 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Realty Specialists Inc.
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Fantastic opportunity to Live and/or invest in one of Toronto's hottest West end neighbourhoods! This Meticulously maintained Legal duplex offers 2 1/2 Levels of large bright living space, 5+1 Bedrooms,3 Newly Renovated Kitchens, 3 Newly Renovated washrooms & Much More! This home features 2 large (above grade) units PLUS a Large 2 level in-law suite (Each offering a Separate kitchen & Washroom!). Property is fully tenanted! Close proximity to George Brown College -Steps away from TTC, Restaurants, Shops, Nightlife & more!
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