490 Summerhill Avenue, Toronto, ON
Property Highlights
Welcome to this remarkable 3-Storey detached located in the coveted neighborhood of Rosedale-Moore Park. Expertly crafted featuring premium brick construction, this residence presents an exceptional opportunity offered at $2,195,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 7 Bedrooms and 3 Bathrooms with 3 functional kitchens
- Generous living space spanning 3500-5000 sqft on a premium 33 x 120 ft lot
- Features a unfinished basement, adding superb versatility for recreation, a home gym, or extra storage
- 4.0 total parking spaces available with a convenient detached configuration
- Notable attributes: None
- equipped with window unit(s) central cooling and highly efficient water heating via gas
Description
Exceptional investment opportunity in prestigious North Rosedale. Situated on coveted Summerhill Avenue, this impressive three-storey property offers incredible flexibility for investors, multi-generational families, or homeowners seeking supplemental rental income. The home features two spacious self-contained apartments plus a charming one-bedroom loft suite with a private balcony, creating multiple living arrangements and income-generating possibilities. Live comfortably in one unit while offsetting expenses with rental income from the others, or capitalize on the property's full investment potential. Set on a desirable lot, the property also includes a detached two-car garage with exciting potential for a future laneway house (subject to applicable approvals), offering an opportunity to further enhance value and income potential. Ideally located just steps from the natural beauty of Chorley Park, the conveniences of Summerhill Market, and some of Toronto's most sought-after amenities, this prime North Rosedale address combines urban convenience with the charm and prestige of one of the city's most distinguished neighbourhoods. A rare opportunity to own a versatile property in an exceptional location with outstanding lifestyle and investment appeal. Garden Suite report available.
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This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 490 Summerhill Avenue, Toronto C09, ON M4W 2E5
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in Toronto, ON
For a property listed at $2,195,000 in Toronto, the legal minimum down payment is $439,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $41,350 for this transaction. Since the property is located in Toronto, a municipal land transfer tax of $41,350 also applies, bringing the total estimated land transfer taxes to $82,700.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.
