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About the Listing 474003 -
Welcome to a Rare Opportunity Offering Charm, Space, Strong Income Potential, and Future Redevelopment Possibilities - All Situated on an Exceptional 40 x 193 Ft Lot. This Beautifully Maintained 3+2 Bedroom Bungalow Delivers Incredible Flexibility for Investors, Multi-Generational Families, or Buyers Seeking the Perfect Blend of Comfortable Living and Significant Rental Income.The Main Level Features a Warm and Functional Layout Highlighted by an Updated Kitchen With Quartz Countertops (2025), New Main Floor Kitchen Appliances (2025), and Bright, Inviting Living Spaces Filled With Natural Light. The Finished Basement Includes Two Separate Tenanted Units - a Bachelor Suite and a 1-Bedroom, 1-Bath Suite - Currently Generating $3,140/Month in Rental Income, With Total Projected Rental Income Potential of Approximately $6,140/Month Including the Main Level.What Truly Elevates This Property Is the Exceptional Lot Size and Future Potential. The Expansive Backyard Presents Exciting Opportunities for a Future Garden Suite, Rear Addition, or Even a Custom New-Build Opportunity (Buyer to Complete Their Own Due Diligence). The Large Detached 2-Car Garage Already Features Existing Water and Power Supply, Offering Outstanding Potential for a Future Garage Conversion Into One or Possibly Two Additional Income-Generating Units.Pride of Ownership Is Evident Throughout With Numerous Recent Updates Including a New Roof (2025), Repaired and Cleaned Gutters (2026), Basement Renovations (2021), and Epoxy Garage Flooring (2023). Existing Solar Panels Help Offset Utility Costs by Approximately $300-$400/Month on Average.Whether You're Looking for a Turnkey Investment, a Multi-Income Property, or a Home With Long-Term Redevelopment Potential, This Property Offers Exceptional Value, Versatility, and Endless Possibilities on an Oversized Lot in a Highly Desirable Setting.
Listing Highlights
Status
Active
Days on Site
5
Property Type
Residential
MLS ®
E13177558
Year Built
Total Square Footage
1,100
Lot/Acreage
N/A
Interior Details
- Bedrooms: 5
- Bathrooms: 3 Full
- Appliances:
- Air Cond: Wall Unit(s)
- Heating: Electric
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Apartment,Finished,Separate Entrance
- Other: Auto Garage Door Remote,Carpet Free,Floor Drain,In-Law Suite,Primary Bedroom - Main Floor,Solar Owned,Storage,Water Heater,3 Kitchens
- Water:
Exterior Details
- Garage Capacity: 1 car
- Roof: Asphalt Shingle
- Others: Patio,Landscaped,Privacy,Security Gate,Fenced Yard
- Sewer: Sewer
- Parking Features: Private,Detached,Has Garage
Financial Details
- Tax Amount: $4,728
- Taxes w/Assessments: N/A
- Tax/Property ID: 063200121
- Tax Year: 2026
Payment Calculator
Monthly Payment
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Years
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Questions About..
50 Elinor Ave Toronto, ON M1R 3H4
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