48 Lanark Ave
Humewood-Cedarvale, Toronto, M6C 2B4
FOR SALE
$2,749,000
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8 + 2
BEDROOMS5
BATHROOMS2
KITCHENS13 + 3
ROOMSC10929868
MLSIDContact Us
Property Description
New 5-Bedroom custom home with a large 3-bedroom/2-bathroom rear coach house (laneway suite) that will supplement your income by approximately $45,000 per year. The coach house is currently leased for $3,745/month. Live in a luxury custom finished home while receiving this considerable rental income care-free. The Coach house is also ideal as an 'in-law suite' for multi-generational households, and is uniquely separated into two living spaces (one on each level) by keyed doors. The coachhouse kitchen is located on the second floor with an additional kitchen rough-in on the main floor. The primary home has a rare 5 bedrooms and 5 bathrooms, and is perfect for a large family or those looking for 4 bedrooms plus an office. Powder Room, Custom-built eat-in kitchen with floor to ceiling pantry for ample storage. Oversized Master Bedroom With tons of natural light, His and Her Custom millwork Closets, and oversized master bedroom ensuite with Free-Standing Tub, Double Vanity and an oversized glass shower. Third floor covered balcony with Private backyard, large deck and rear basement walkout. The primary home may also be retrofitted for a future basement apartment as it is separated from the main floor and is equipped with a separate exterior entrance, 2 bedrooms and a laundry/kitchen rough-in. This would allow a future owner to receive additional rental income from a large 2 bedroom basement apartment in addition to substantial rental income from the detached coach house. This home is located steps to Cedarvale Park, Leo Baeck Day School and Eglinton Station/Crosstown. Construction completed in June 2023 so it is not subject to Ontario rent increase limits. Speak to your mortgage broker for information on qualifying for a mortgage using supplemental rental income from secondary suites.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-10-08 | 2024-10-12 | 4 | $3,495 | $3,745 | Leased |
| 2023-06-19 | 2023-08-02 | 47 | $3,695 | $3,920 | Leased |
| 2023-03-16 | 2023-06-16 | 17 | $3,750 | - | Expired |
Nearby Intersections
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Property Details
Street
Community
City
Property Type
Detached, 3-Storey
Approximate Sq.Ft.
3500-5000
Lot Size
25' x 120'
Lot Irregularities
Includes Coach House / Laneway Suite
Fronting
North
Taxes
$10,071 (2024)
Basement
Fin W/O
Exterior
Brick, Stucco/Plaster
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
1
Driveway
Available
Garage Type
Built-In
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Toronto Market Statistics
Toronto Price Trend
48 Lanark Ave is a 8-bedroom 5-bathroom home listed for sale at $2,749,000, which is $444,000 (19.3%) higher than the average sold price of $2,305,000 in the last 30 days (November 3 - December 2). During the last 30 days the average sold price for a 8 bedroom home in Toronto declined by $933,954 (28.8%) compared to the previous 30 day period (October 4 - November 2) and down $905,000 (28.2%) from the same time one year ago.Inventory Change
There were 6 8-bedroom homes listed in Toronto over the last 30 days (November 3 - December 2), which is down 0.0% compared with the previous 30 day period (October 4 - November 2) and up 50.0% compared with the same period last year.Sold Price Above/Below Asking ($)
8-bedroom homes in Toronto typically sold ($45,000) (2.0%) below asking price over the last 30 days (November 3 - December 2), which represents a $9,355 decrease compared to the previous 30 day period (October 4 - November 2) and $415,000 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 8-bedroom homes in Toronto over the last 30 days (November 3 - December 2) stood at 16.7%, down from 83.3% over the previous 30 days (October 4 - November 2) and down from 25.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 8-bedroom 5-bathroom home in Toronto stood at 112 days when successfully sold over the last 30 days (November 3 - December 2), compared to 131 days before being removed from the market upon being suspended or terminated.Listing contracted with Right At Home Realty
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