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Real Estate News

Sale of the Week: The $2.3-million Casa Loma five-plex

By Kelly Reid| Photography by Darren Gahan
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The house that sold at 36 Austin Terrace
Listed At
$2,249,000
Sold For
$2,300,000

Address: 36 Austin Terrace
Neighbourhood: Casa Loma Agent: Valérie Benchitrit and Josie Stern, Sutton Group Associates Realty Inc., Brokerage      

The property

An older home, split into five rental-ready units.

There’s a nice big porch out front:

Sale of the Week: The $2.3-million Casa Loma five-plex

The owner’s suite takes up the entire main floor. Here’s the living room:

Sale of the Week: The $2.3-million Casa Loma five-plex

The dining room:

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Sale of the Week: The $2.3-million Casa Loma five-plex

And the kitchen:

Sale of the Week: The $2.3-million Casa Loma five-plex

There are three bedrooms in the owner’s suite. Here’s one:

Sale of the Week: The $2.3-million Casa Loma five-plex

And another:

Sale of the Week: The $2.3-million Casa Loma five-plex

There’s also a sunroom, which faces the backyard:

Sale of the Week: The $2.3-million Casa Loma five-plex

The second floor is split into two rental suites. Here’s the living room in one of them:

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Sale of the Week: The $2.3-million Casa Loma five-plex

And the modest kitchen:

Sale of the Week: The $2.3-million Casa Loma five-plex

And the bedroom, with fireplace:

Sale of the Week: The $2.3-million Casa Loma five-plex

Here’s the living room in the other second-floor suite:

Sale of the Week: The $2.3-million Casa Loma five-plex

The kitchen, with balcony access:

Sale of the Week: The $2.3-million Casa Loma five-plex

And the bedroom:

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Sale of the Week: The $2.3-million Casa Loma five-plex

There’s a loft suite on the third floor:

Sale of the Week: The $2.3-million Casa Loma five-plex

It has its own rooftop deck:

Sale of the Week: The $2.3-million Casa Loma five-plex

And there’s another suite in the basement:

Sale of the Week: The $2.3-million Casa Loma five-plex

Plus a fairly roomy backyard:

Sale of the Week: The $2.3-million Casa Loma five-plex
The history

The house is about 95 years old, and has been a multi-unit income property for decades, at least. The seller lived in the owner’s suite. He waited for all his tenants to wrap up their leases before putting the property on the market.

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The fate

The buyers have plans to do some substantial renovations. They’ll likely keep the house split into several rental units.

The sale

There were no open houses because the house was tenanted, but there were many showings. Some potential buyers were contemplating the possibility of converting the place back into a single-family home. Though there were several offers, the buyers’ offer was the highest, and it was unconditional, so it won out.

By the numbers

• $2,300,000 • $9,051.13 in taxes (2016) • 3,185 square feet • 1,135-square-foot basement • 22 days on MLS • 5 units

The Hunt

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