House of the Week: $1.2 million for a Wallace-Emerson triplex by the tracks
Address: 86 Geary Avenue
Neighbourhood: Wallace-Emerson
Agent: Cyril Da Silva, Homelife/Cimerman Real Estate Ltd., Brokerage
Price: $1,199,000
The place: A two-story triplex in a semi-hidden industrial enclave beside the Dupont Street rail corridor.
The history: Two architects bought this 1920s triplex about five years ago, then completely gutted and remodelled the inside. The wooden staircase is now the only original feature. Some of the upgrades include heated bamboo floors, a balcony off one of the master bedrooms, and improved landscaping.
Big selling point: The neighbourhood looks a little gritty today, but, judging by the businesses moving into the area, it won’t stay that way for long. According to the agent, Google just leased the third floor of the nearby GH Johnson building—the same place where Bellwoods Brewery is set to open a second location.
Possible deal breaker: The house is split into three units, so anyone who buys it will probably need to become a landlord. Also, there are only two parking spaces, meaning one apartment dweller is getting shut out.
By the numbers:
• $1,199,000 • $3,623.28 in taxes (2015) • 1250-square-foot owner’s apartment • 4 bathrooms • 3 bedrooms • 3 laundry facilities • 2 parking spaces
