692 Richmond Street, Toronto, ON
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Property Highlights
Welcome to this remarkable 2-Storey detached located in the coveted neighborhood of Niagara. Expertly crafted featuring premium brick construction, this residence presents an exceptional opportunity offered at $2,399,000 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.
- 3 Bedrooms and 4 Bathrooms with 3 functional kitchens
- Generous living space spanning 3000-3500 sqft on a premium 25 x 105 ft lot
- Features a separate entrance, walk-out basement, adding superb versatility for recreation, a home gym, or extra storage
- 1.0 total parking spaces available with a convenient detached configuration
- Notable attributes: Separate Hydro Meter, Brick & Beam, Accessory Apartment
- equipped with other central cooling and highly efficient baseboard heating via electric
Description
Wow, one of the first factories in the Fashion District! Cool factor, check! This 150 year-old classic red brick building with gorgeous stained glass, exposed brick & wood beams, was cleverly converted into four self-contained units. Currently, there are three updated residential apartments. Each have renovated kitchens and baths with incredible windows, character & square footage! There's also a fourth unit that provides an option to easily add value in the 1,515SF unfinished lower level that already has 8'+ ceiling height, large windows and two entrances! A premium 25 by 105 Detached lot abutting two laneways, with over 20 windows on all four exposures of the building, this is a great opportunity for Investors, End-users or Developers alike! Currently the upper unit is a 1,475SF 1 bed, 1 bath, laundry + rooftop deck (tenanted with great tenants). Main (front) is 950SF 1 bed, 1 bath, laundry + front porch (tenanted with great tenants). Main (back) is 540SF + backyard. All with separate entrances and hydro meters! Vacant possession is possible. Endless potential for laneway development, third floor addition (or up to 6-storeys), return to single family "super house", trophy "purpose-built rental", one or two basement apartments, commercial applications in lower level (was a greeting card business), get creative because the sky is the limit! In the new "protected transit zone" allowing for much larger density. Ideally located in one of the best blocks in all of Downtown Toronto on a quiet one-way street in Iconic neighbourhood. Walk in any direction to Downtown's most sought after amenities. Trinity-Bellwoods Park, Queen West, Dundas West, King West, new King/Bathurst Subway, Financial District, Ossington strip, King & Portland, the Lake, Porter Airport and the Highway.
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Key Features
Additional Details
Property Details
Parking & Garage
Heating & Cooling
Features
Property Features
Public Transit, School, Hospital, Park, Rec./Commun.Centre
Interior Features
Separate Hydro Meter, Brick & Beam, Accessory Apartment
Security Features
Community Features
Location
Property History
No historical data available for this property.
This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 692 Richmond Street W, Toronto C01, ON M6J 1C5
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 $2,399,000 in Toronto, the legal minimum down payment is $479,800 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 $46,450 for this transaction. Since the property is located in Toronto, a municipal land transfer tax of $46,450 also applies, bringing the total estimated land transfer taxes to $92,900.
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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.
