1157 Davenport Road, Toronto C02, ON

Description

Welcome to 1157 Davenport Rd, located in the sought-after Wychwood neighbourhood. The mixed-use building is made up of a residence featuring 2+1 bedrooms and 2 bathrooms and a storefront studio with another 2-piece bathroom. The building can be used exclusively as a residence or divided into two residential/commercial units for live-work or income. The layout has built-in flexibility for how much space can be devoted to the residential and commercial units. The basement walkout with an extra kitchen, bathroom and large storage area can be either connected to the residence or the commercial space. The storefront is currently leased to a quality retail tenant with a lease until December 2025 and the primary residence is owner-occupied and will be provided vacant at closing. Upgrades include a new roof, new high-quality wood and aluminum windows, new plumbing throughout, new washrooms on all levels and a new kitchenette in the basement. The building boasts two furnaces, separate hydro meters, fully fenced and well-maintained yard, two car tandem parking via lane access, tons of dry storage space, plus much more. Ideally located within walking distance to Hillcrest Park, and close to TTC, schools, local shops, dining and all the vibrant amenities of the area. Can be a 100% live-in residence, live-work, residence with supplemental income via the commercial space, expanded commercial use, or strictly an investment property. There are long views south across the city from the second floor due to its location on the hill. Similar properties on Davenport have recently added a third floor and increased the amount of residential units since the CR1.5 zoning allows for more density than the residential properties in the area. Property taxes are currently based upon 25% of the building being used for commercial purposes and could be significantly reduced if you change the use to 100% residential and notify MPAC of the change in use.