243 Lippincott St
University, Downtown Toronto, M5S 2P4
FOR SALE
$1,600,000
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7 + 2
BEDROOMS3
BATHROOMS2
KITCHENS11 + 3
ROOMSC9398542
MLSIDContact Us
Property Description
This unique and high-performing duplex, generating $9,600 per month in rental income, offers both current cash flow and future development potential. The property features a 3-bedroom lane-way house (separately metered) and a 4-bedroom main house with an additional 2 bedrooms in the basement, providing ample space for tenants. Exciting development potential awaits! The city has expressed support for converting the property into 4 legal units fronting on Lippincott St. and 1 legal unit on Croft St., offering a rare opportunity to maximize the property's value. Located in a prime downtown Toronto location, this property is a short walk to the University of Toronto, Toronto General Hospital, shopping, community centers, and more. This is an exceptional opportunity for investors looking to expand their portfolio in one of Toronto's most sought-after neighborhoods.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2023-10-16 | 2024-04-04 | 171 | $1,888,000 | - | Terminated |
| 2023-09-25 | 2023-10-13 | 18 | $1,888,000 | - | Terminated |
| 2023-01-27 | 2023-06-29 | 49 | $1,848,000 | - | Expired |
| 2022-09-20 | 2022-12-14 | 86 | $1,799,000 | - | Expired |
| 2021-11-19 | 2022-01-04 | 46 | $1,900,000 | - | Terminated |
| 2021-11-08 | 2021-11-19 | 11 | $1,799,000 | - | Terminated |
| 2020-11-11 | 2021-01-11 | 61 | $1,799,000 | - | Terminated |
| 2020-08-28 | 2020-11-11 | 75 | $1,999,000 | - | Terminated |
Extras
2 sets Fridges, stoves, Washers/Dryers , dishwasher , 2 sets of furnace and AC. 2 SETS OF HYDRO AND GAS METER.
Nearby Intersections
Bloor & Bathurst (41)
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Property Details
Street
Community
City
Property Type
Duplex, 2-Storey
Lot Size
17' x 140'
Fronting
West
Taxes
$7,509 (2023)
Basement
Fin W/O
Exterior
Vinyl Siding
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Driveway
None
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Family | Main | 12.80' x 12.80' | Hardwood Floor |
| Br | Main | 12.80' x 12.80' | Hardwood Floor |
| Kitchen | Main | 12.14' x 15.42' | W/O To Patio |
| Prim Bdrm | 2nd | 12.14' x 16.73' | Hardwood Floor |
| 2nd Br | 2nd | 8.86' x 12.14' | Hardwood Floor |
| 3rd Br | 2nd | 8.04' x 12.47' | Hardwood Floor |
| Prim Bdrm | Flat | 9.84' x 12.14' | Laminate, W/O To Patio |
| 2nd Br | Flat | 9.84' x 12.14' | Laminate |
| 3rd Br | Flat | 9.51' x 12.14' | Laminate |
| Kitchen | Flat | 12.14' x 13.12' | Laminate |
| Living | Flat | 12.14' x 13.12' | Laminate |
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Downtown Toronto Market Statistics
Downtown Toronto Price Trend
243 Lippincott St is a 7-bedroom 3-bathroom home listed for sale at $1,600,000, which is $50,000 (3.0%) lower than the average sold price of $1,650,000 in the last 30 days (November 2 - December 1). During the last 30 days the average sold price for a 7 bedroom home in Downtown Toronto increased by $390,000 (31.0%) compared to the previous 30 day period (October 3 - November 1) and up $155,000 (10.4%) from the same time one year ago.Inventory Change
There were 6 7-bedroom homes listed in Downtown Toronto over the last 30 days (November 2 - December 1), which is down 50.0% compared with the previous 30 day period (October 3 - November 1) and down 40.0% compared with the same period last year.Sold Price Above/Below Asking ($)
7-bedroom homes in Downtown Toronto typically sold ($119,000) (7.2%) below asking price over the last 30 days (November 2 - December 1), which represents a $80,000 decrease compared to the previous 30 day period (October 3 - November 1) and ($105,000) 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 7-bedroom homes in Downtown Toronto over the last 30 days (November 2 - December 1) stood at 16.7%, up from 8.3% over the previous 30 days (October 3 - November 1) and up from 10.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 7-bedroom 3-bathroom home in Downtown Toronto stood at 34 days when successfully sold over the last 30 days (November 2 - December 1), compared to 101 days before being removed from the market upon being suspended or terminated.Listing contracted with Our Neighbourhood Realty Inc.
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