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A Prized Victorian Legal Fourplex In Dufferin Grove

A Prized Victorian Legal Fourplex In Dufferin Grove


Offered at: $1,499,000


SOLD

Whether you’re seeking an investment-property, a residence with an income-supplement, or a home for your multi-generational family, this substantial legal four unit merchant class Victorian manse has been renovated to a high calibre from top to bottom! With its quality fittings and finishes, generous lot, and highly-coveted Triple AAA locale, this elegant residence offers a turn-key opportunity for the Buyer seeking the best of the best!

Welcome to 530 Dovercourt Road!

 

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Neighbourhoods are multi-layered; history, culture, geography and time all play a role in the formation of the layers that combine to promote a distinctive vibe. This describes Dufferin Grove to a “T”, where there is an intermingling of cultural communities, that vary from your vantage point - literally from corner to corner and street to street, within its’ boundaries of Bloor, College, Ossington and Dufferin Streets.

There is a certain sense of gratitude and contentment knowing that you don’t have to compromise, especially when it comes to choosing where you live. This is what residents in Dufferin Grove experience. You’re surrounded by cool amenities that promote the pedestrian lifestyle and that certain quality that urban living delivers, but you’re also absolutely enmeshed in green space - with parks and tree lined streets aplenty.

What’s your shopping style? Mall or cute boutique? You’ve not only got ample choice for all of these - but you’ve got convenient access as well. Within a 10-minute walk is Dufferin Mall and Bloor Street. Looking to grab a bite or meet with friends for coffee, drinks or a hang-out? No need to make plans - just wander out your front door south to College Street with its selection of eclectic eateries, not to mention some stellar 'buy local' produce and cheese shops.

Another must-have for the urbanite is access to public transit, with the 24-hour 506 Carlton streetcar steps away on College Street or the 6am-1:30am Bloor subway line at Dufferin or Ossington. There's even a ZipCar location close by as well.

Been a while since you spent an afternoon hanging out in library? This one is well worth your afternoon (and a few more). The Gladstone Library, is not only chock-full of reading and multimedia material, family and community programming, it’s a visual marvel as well, after its recent $119 million renovation. Loads of natural light, free Wi-Fi, comfy chairs and snacks? Throw in a good book, and it sounds heavenly.

In every direction, there are parks big and small nearby. The most notable is Dufferin Grove Park, a vast green space, about a 10-minute walk away from your front door. It’s not just great because of the amount of green space afforded in this decidedly urban location, but there are activities and amenities abounding at this park. Families will be thrilled with the ice skating rink, playgrounds and picnic areas.

You can even stay connected while you’re there (Wi-Fi!). Chefs (amateur and otherwise) will appreciate the quality and selection of goods at the weekly organic market. There’s even a community pizza oven! There are also a number of organized activities that take place throughout the year, organized by the ‘Friends of Dufferin Grove Park’.

Families and fit folk will appreciate the proximity to the YMCA at the corner of College and Dovercourt where there is loads of fitness and recreation programming to choose from, right in your neighbourhood.

Even if you don’t have children or have any immediate need for schools, having access to quality education right in your neighbourhood is a big plus when it comes to boosting your property value over time. There is good representation from different boards and grade levels in this neighbourhood. Dewson Street Junior Public School offers a comprehensive education program from JK to Grade 6, with both regular English and French Immersion Programs. There are 530 students of diverse ethno-cultural backgrounds. The school has specialist teachers for core French, Music, and Physical Education, along with a great Learning Resource Centre. St. Mary’s Catholic Secondary School is less than a 10-minute walk away and has programming for children from grades 9-12.

Where you live figures in not only to the value of your life (in terms of quality) but also to the value of the investment in your home. You’ve heard the real estate mantra “location, location, location”? What this drills down to is location supports or detracts from your home’s potential to increase in value - specifically proximity to transit, green space and amenities. 530 Dovercourt’s location in Dufferin Grove ticks all of those boxes.

Just as amazing is the dwelling itself. Fully retrofitted into a legal 4-plex in the 1980s - and well-positioned on a substantial 30x195 foot west-facing professionally landscaped lot with three car laneway parking - this exceptional residence boasts 3182 square feet above grade plus a further 1147 square feet on the lower level. Currently comprising a one bedroom Lower Level Suite, a two bedroom Garden Suite, and a substantial two-level 2000square foot+ three-bedroom 2-bath Owner's Suite with sundrenched roof terrace, this top notch well-maintained heart-grabbing home offers the ideal marriage of location, space plan and exceptional condition, making this a stellar opportunity for those coveting a gracious elegant mansion.

Here's a comprehensive summary of the property's current configuration and opportunity:

Apartment 1 - Garden Suite - Tenanted since December 2014 and now on a month-to-month rental, this airy 2-bedroom 1-bath ground level suite features soaring ceilings, charming bay windows, and a contemporary wood-burning fireplace perfect for cozy winter's nights. Thoughtfully designed, we love the efficient open concept galley kitchen with floating wall that hides all the dishes yet keeps the resident chef engaged with his guests. Blending a modern fresh neutral interior within the gracious proportions of this vintage Victorian, both spacious bedrooms feature ample storage and the renovated 5-piece washroom boasts an indulgent soaking tub. We love the private lush garden vistas, and the dreamy master bedroom sanctuary with its own garden terrace. Having a rent (as January 01st) for $1,675/month plus electricity and gas (estimated market rent today would be around $2000+/mo), this unit includes 1 outdoor parking space and a lower level storage area that connects to the common laundry area. These tenants, a delightful young family, would love to stay.

Apartment 2/3 - Upper Suite - Currently owner-occupied, this 2004 square foot 'house-in-the-sky' was originally two separate apartments. Substantially upgraded, this breath-taking space boasts amazing proportions. In the original west-facing second level suite (Apartment 2 totaling 561 square feet estimate monthly rent $1400+), a sunken open plan entertainment area (now a dining room) with bay window takes centre stage, while the original kitchen has been used as a bespoke home office. Retaining alot of the cabinetry and plumbing, this kitchen can easily be restored in a jiffy. At the rear, a sun-drenched bedroom with full bath features a double closet and a walk-out to its own private balcony. In the second level front portion of this suite (formerly Apartment 3 comprising 1443 square feet estimated rent $2500+), an open concept entertainment area features a renovated kitchen with breakfast bar, a wood-burning fireplace, recessed lighting and exposed brick walls. A broad staircase with retro-railings ascends to a skylit landing with ceilings that soar 15 feet high that accesses a charming east-facing bedroom with vaulted ceilings and round window, a massive skylit (operable) 5-piece washroom with separate shower, jet soaking tub, and clerestory windows; a laundry room; and a magnificent master suite with vaulted ceilings, bay window, and spectacular landscaped roof terrace with barbecue, teak furnishings, planters and an electric retractable awning for shade. Isn't this magical? Unparalleled as is, the owner has retained the independent heating/cooling systems - and meters ready to convert back into two apartment based on the next occupant's needs. View the floor plans to see how easy it is to create two Units, just by adding Fire-rated Doors at the top of the second floor landing!

Apartment 4- Lower Level - Tenanted since February 2014 and now on a month-to-month rental, this modern 1-bedroom 1-bath lower level suite has its own private entrance on the north side of the property along the lush garden walkway. Excavated and finished in 1994, this well-proportioned suite of around 600 square feet has ample storage, upgraded flooring and appliances, a charming 'bay window' layout in the open concept entertainment space, and a stylish 4-piece washroom. Having a rent (as January 01st) for $860/month plus electricity and gas (estimated market rent today would be around $1000+/mo), this unit includes use of the common laundry and storage, the rear garden patio and bike storage. The lovely tenant would love to stay.

Retrofitted into a legal 4-plex (how rare is that?), this residence has five separate hydro meters – one for each unit and one for the common area which covers exterior lighting plus basement common area and entry halls, and three gas meters - with a connection for a fourth if one is returning the combined upper units into two separate suites. There are currently three rental hot water tanks with the fittings for a fourth should one wish to reconfigure the Owner's Suite back into two units. Two high-efficiency gas furnaces serve Unit 1 (Garden) and Unit 3 (Upper East - which also has a ductless heat pump for heating/cooling on the top level) while electric baseboards heat the Lower Level Suite and a combination of electric baseboards and a ductless heat pump for heating/cooling serve Unit 2 (Second West).

Whether this suits you and your extended family - or is a solid income proposition (Estimated Annual Income $77,000 Gross With Annual Expenses Of Around $12,000) - a comprehensive summary of upgrades, rental pro-forma and inclusions will be available, imminently.

Want to learn more about this and other Toronto neighbourhoods? Check out our Neighborhood Pages, including our flavour videos, the city census data on the areas, plus several past blogs on area amenities! We love Toronto's diversity!

Want to know more? Contact Steve at steve@urbaneer.com!

SOLD