The price of this $3.4 million Toronto house has more than doubled in just five years
Toronto is known for its many charming old Victorian homes dating back to the 19th century, but one newly-listed Victorian offers much more modernity and income potential than most of its counterparts.
The two-storey home at 349 Manning Avenue was constructed in the 1800s and features not one, but two additional revenue streams, which explains the price tag of just over $3.4 million.
It's a hefty price when you consider the home was sold for just $1,175,000 back in 2018 and again at $2,225,000 in 2021.
So why the huge increase in price?
The main structure features an entire basement apartment while the backyard boasts a newly-constructed laneway house, meaning somebody could live in the upper levels of the home and rent the basement and laneway home, which is an approximate monthly income of $5,500.
The possibilities are endless. But first, let's look at the homes themselves.
First and foremost, the restored red brick on the exterior of the home is beautifully contrasted against the black trim, doors and roof sidings.
Moving inside, the interior welcomes visitors and prospective homeowners with white oak hardwood flooring and an exposed brick wall surrounding a fireplace.
The open-concept main-floor living space offers some added versatility in that it can be transformed into a formal dining room or even an office.
A first-floor powder room features Victorian-age details, including a preserved entry door topped by an original stained-glass transom.
The exquisite floor-to-ceiling slab marble wall with custom cabinets and mirror inserts frames a central fireplace, while gigantic sliding doors open up to an outdoor patio.
Moving into the kitchen, you'll find a breakfast nook or island with a black stone countertop and Thermador appliances.
This kitchen has a ton of storage capabilities, and ample cooking capacity with appliances like a double-stacked oven.
Three bedrooms can be found on the second floor, including the primary suite with floor-to-ceiling windows and a custom walk-in closet.
The beautiful four-piece ensuite is dripping in white stone finishes and also offers luxurious heated floors for those chilly winter mornings.
Downstairs is where you'll find one of the property's money-makers in a self-contained basement apartment with a separate entrance. It's a move-in-ready source of revenue that the new homeowners will be able to cash in on right away.
The property also features a laneway house, which is just so cute and puts a modern twist on the design language of the primary residence.
Inside, it's a cozy space, but the layout has maximized every square foot to its full potential, including a shelf-like slab that does double duty as a dining table or work desk.
There is no shortage of natural light thanks to a huge skylight and double-pane windows. Bonus points for the full-size washer and dryer units that won't force you to strategically select which clothes to wash.
The bathroom shower is a very generous size and is dripping in more white stone, while the main bedroom is extremely small yet airy.
Listed at $3,429,000, there are plenty of ways to make your stretch your dollar when purchasing this completely renovated 3 + 2 bedroom, four-bathroom home.
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