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Welcome to this remarkable 2 1/2 Storey semi-detached located in the coveted neighborhood of Cabbagetown-South St. James Town. Expertly crafted featuring premium stucco (plaster) and hardboard construction, this residence presents an exceptional opportunity offered at $2,595,000 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.
Behind the doors of this quaint heritage home is a thoughtfully renovated Cabbagetown residence that blends historic charm with modern functionality. It's rare to find a renovated Cabbagetown property with a front hall closet, main floor powder room, breakfast room, family room, parking and generous storage throughout. The main floor offers gracious principal rooms designed for everyday living and entertaining. The living room features a gas fireplace, while the dining room includes a built-in buffet with custom storage and a pullout bar. The open-concept kitchen and family room are filled with natural light from three skylights, a bay window, and a glass walkout to the private deck. The kitchen is equipped with a Miele slide-in range (six burners, griddle, and double oven/microwave), a waterfall quartzite centre island, walk-in pantry, built-in banquette with storage, heated floors, and a dedicated organization 'drop zone' for busy family life. Upstairs, the second level includes three spacious bedrooms and two bathrooms, including a king-sized primary suite with built-ins, three double closets, and a large ensuite with a steam shower. The third floor offers a bright, king-sized bedroom retreat.The finished lower level features a gym, a bathroom with walk-in shower and built-in bench, a laundry room with sink and custom storage, and a media room with built-in projector, motorized screen, and exhaust fan. Additional highlights include wall-to-wall basement storage with retractable valet rods, Insteon smart lighting, a new cedar shake roof (2024), and a parking space with storage shed. A veritable Cabbagetown unicorn!
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Data-driven valuation for 56 Spruce Street, Toronto C08, ON M5A 2H9
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
Calculate your monthly payment, minimum downpayment, and land transfer taxes for this home in Toronto.
About Purchasing a Home in Toronto, ON
For a property listed at $2,595,000 in Toronto, the legal minimum down payment is $519,000 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 $51,350 for this transaction. Since the property is located in Toronto, a municipal land transfer tax of $51,350 also applies, bringing the total estimated land transfer taxes to $102,700.
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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.