Sale of the Week: The $1.45-million Riverdale home that shows the appeal of a basement rental unit

Sale of the Week: The $1.45-million Riverdale home that shows the appeal of a basement rental unit

Listed At
Sold For

Address: 17 Harcourt Avenue

Neighbourhood: Riverdale

Agent: Claudio Cerrito, RE/MAX Hallmark Realty Ltd., Brokerage

The property: A newly renovated detached home. The finished basement has its own separate entrance, making it usable either as a rental apartment or as a nanny suite.

The history: The sellers, a couple who had lived in the home for a number of years, were looking to downsize. They left the neighbourhood for a condo elsewhere in Toronto.

The fate: The buyers are a young family, who were already renting in the area and loved the neighbourhood. They were drawn to the house both because of its updated interior and because of the basement apartment, which could be rented out, or otherwise renovated into a rec room.

The sale: The property was on the market for just seven days, during which it attracted plenty of attention from buyers hoping to defray their mortage payments with rental income from the basement. There were three competing bids, and the sellers accepted the highest, at $151,100 over asking.

By the numbers:

  • $1,451,000
  • $6,472.15 in property taxes (2015)
  • 25 by 120-foot lot
  • 7 days on the market
  • 4 + 2 Bedrooms
  • 3 bathrooms
  • 1 basement apartment
  • 1 detached garage

The foyer is enclosed with glass.

There’s a small eating area at the front of the house, with plenty of built-in storage.

The kitchen is continuous with the eating area.

There’s a large dining area at the back of the house, with a fireplace.

The living room has doors to the backyard.

The family room is up on the second floor.

Also on the second floor: the master bedroom.

The master bedroom’s walk-in closet.

And the second-floor bathroom.

There are two more bedrooms on the third floor.

Here’s one.

And here’s the other.

The basement is set up as a separate living unit.

The basement kitchen is nothing fancy, but it gets the job done.

One of two basement bedrooms.

The backyard has a long deck and plenty of shed space.

The view from the rear.