47 Northcote Ave
Little Portugal, Toronto, M6J 3K2
FOR SALE
$2,575,000
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Property Description
Investors consider buying both 47 Northcote Ave, or 45 Northcote Ave separately, or buy them both & allow titles of both properties to merge into a legal 8-plex, with existing approval for additional unit, and possibly avoid Canada's foreign buyer ban. This Bay & Gable brownstone beauty at #47 Northcote Ave is a 3-story 4-plex with self-contained apartments, including 2 1-bedroom main flr apartments, a large 2-bed 2nd, a large apartment on 3rd with a massive rooftop deck. Anchored in the West Queen West area of Toronto - a most desirable lifestyle and real estate investment hub - having the opportunity to purchase 2 side by side homes like this is nearly unheard of in this area. Renovated Victorian era brownstone with optimum income for owners who intend to live here or investors maximizing rents and future price appreciation. In 2018 #47 was approved for an additional huge basement apartment. just like the one at #45. Ensuite laundries, separately metered and with own temperature controls. Floors were additionally insulated for sound and thermal. 47 Northcote backs onto a laneway offering access multiple neighbouring coach houses. #45 & #47 could house a coach house of their own. Prefer to keep the backyard as parking? Theres room for over 6 cars. #45 & #47 together span 43+ feet of frontage and approximately 123 feet of depth. Current rents lead to top of market CAP rates, with tenants paying own utilities. With already approved expansion plans, financials will surely go up. Beaconsfield Village's Northcote is bookended by dreamy Beaconsfield Avenue with its mid-1800s brownstones and fabulous coach houses, anchored by Queen West's famous Drake Hotel and The Gladstone. Top restaurants, fantastic dessert and coffee shops, and famous bars. Top walk and bike scores.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-05-23 | 2024-07-28 | 66 | $2,575,000 | - | Terminated |
| 2024-05-02 | 2024-05-23 | 21 | $2,775,000 | - | Terminated |
Extras
Multiple Parking spots at rear, via laneway. All appliances, HVAC equipment included. Full basement with storage and approvals for another apartment.
Nearby Intersections
Property Features
Park, Public Transit, Rec Centre, School
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Property Details
Street
Community
City
Property Type
Semi-Detached, 3-Storey
Approximate Sq.Ft.
3000-3500
Lot Size
20' x 123'
Fronting
East
Taxes
$8,548 (2024)
Basement
Sep Entrance, Unfinished
Exterior
Brick, Other
Heat Type
Radiant
Heat Source
Gas
Air Conditioning
Wall Unit
Water
Municipal
Parking Spaces
3
Driveway
Lane
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Living | Main | 3.28' x 3.28' | 4 Pc Bath, Bay Window |
| Br | Main | 3.28' x 3.28' | |
| Kitchen | Main | 3.28' x 3.28' | |
| Br | 2nd | 3.28' x 3.28' | |
| Family | 3rd | 3.28' x 3.28' | 4 Pc Bath, Combined W/Kitchen |
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Toronto Market Statistics
Toronto Price Trend
47 Northcote Ave is a 6-bedroom 4-bathroom home listed for sale at $2,575,000, which is $1,420,900 (35.6%) lower than the average sold price of $3,995,900 in the last 30 days (August 19 - September 17). During the last 30 days the average sold price for a 6 bedroom home in Toronto increased by $2,462,900 (160.7%) compared to the previous 30 day period (July 20 - August 18) and up $2,008,400 (101.1%) from the same time one year ago.Inventory Change
There were 28 6-bedroom homes listed in Toronto over the last 30 days (August 19 - September 17), which is up 64.7% compared with the previous 30 day period (July 20 - August 18) and down 33.3% compared with the same period last year.Sold Price Above/Below Asking ($)
6-bedroom homes in Toronto typically sold ($410,100) (10.3%) below asking price over the last 30 days (August 19 - September 17), which represents a $275,120 decrease compared to the previous 30 day period (July 20 - August 18) and ($44,000) 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 6-bedroom homes in Toronto over the last 30 days (August 19 - September 17) stood at 35.7%, up from 29.4% over the previous 30 days (July 20 - August 18) 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 4-bathroom home in Toronto stood at 60 days when successfully sold over the last 30 days (August 19 - September 17), compared to 83 days before being removed from the market upon being suspended or terminated.Listing contracted with Harvey Kalles Real Estate Ltd.
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