58 Lakeview Avenue - DUFFERIN GROVE

In April 2015, I posted a 4+1 bedroom, 2 bathroom semi on a 19.71 x 110 foot lot at 58 Lakeview Avenue in Dufferin Grove.

It was a single family house that was fine but was definitely a little tired. But with a new kitchen and bathroom vanity, it could be better. Or, with a full reno, it could be great.

It was listed at $1,050,000. It sold for $1,176,000.

Two years later, it is back on the market. And they did some work but not what I was expecting.

It has all been updated but not as a single family home. This semi is now 4+1 bedroom, 3 bathroom duplex with a basement apartment and they are all good.

I'm not crazy about the flooring on the second floor but it is good for a rental. And I feel the same with the kitchens.

According to the listing, the main floor and basement apartments are currently rented out with tenants who want to stay and the second/third floor 'owner' suite is empty...

Which means you could buy this and live in the top 2 floors while the tenants pay your mortgage. And as far as tenants go, they seem to be pretty tidy.

It is now listed at $1,849,000.

Without changes, at a 10% annual increase, this house would now be worth $1,422,000. But considering the last year has seen 35% increases, it's worth even more than that, not including changes.

So, the price is pretty good and I'm guessing it will sell closer to $1,950,000.