50 Elinor Avenue Toronto, Ontario M1R 3H4
$1,199,999
Welcome to a rare opportunity that blends charm, space, income potential, and future upside - all on an exceptional 40 x 193 ft lot. This beautifully maintained 3+2 bedroom bungalow offers versatility for investors, multi-generational families, or buyers looking to live while generating substantial rental income. The main level features a warm and inviting layout with an updated kitchen complete with quartz countertops (2025), new appliances (2025), and bright living spaces. 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 income potential of approximately $6,140/month including the main level. What truly sets this property apart is the land and future development potential. The massive backyard offers exciting possibilities 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 includes existing water and power supply, creating excellent potential for a future garage conversion into one or possibly two additional income-generating units. Extensively updated and well cared for, this property features a new roof (2025), repaired and cleaned gutters (2026), basement renovations (2021), and epoxy garage flooring (2023). Solar panels help offset utility costs by approximately $300-$400/month on average. Whether you're searching for a smart investment, a multi-income property, or a home with long-term redevelopment potential, this property delivers endless possibilities on an oversized lot in a highly desirable setting. (id:61483)
Open House
This property has open houses!
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Ends at:4:00 pm
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Property Details
| MLS® Number | E13177558 |
| Property Type | Single Family |
| Neigbourhood | Wexford |
| Community Name | Wexford-Maryvale |
| Equipment Type | Air Conditioner, Water Heater |
| Features | Carpet Free, Solar Equipment, In-law Suite |
| Parking Space Total | 9 |
| Rental Equipment Type | Air Conditioner, Water Heater |
| Structure | Patio(s), Outbuilding |
Building
| Bathroom Total | 3 |
| Bedrooms Above Ground | 3 |
| Bedrooms Below Ground | 2 |
| Bedrooms Total | 5 |
| Appliances | Water Heater, Water Heater - Tankless, Garage Door Opener Remote(s), Dishwasher, Dryer, Stove, Washer, Window Coverings, Refrigerator |
| Architectural Style | Bungalow |
| Basement Development | Finished |
| Basement Features | Apartment In Basement, Separate Entrance |
| Basement Type | N/a, N/a (finished), N/a |
| Construction Style Attachment | Detached |
| Cooling Type | Wall Unit |
| Exterior Finish | Brick |
| Fire Protection | Security System, Smoke Detectors |
| Foundation Type | Block |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 1 |
| Size Interior | 700 - 1,100 Ft2 |
| Type | House |
| Utility Water | Municipal Water |
Parking
| Detached Garage | |
| Garage |
Land
| Acreage | No |
| Fence Type | Fenced Yard |
| Landscape Features | Landscaped |
| Sewer | Sanitary Sewer |
| Size Depth | 193 Ft ,7 In |
| Size Frontage | 40 Ft |
| Size Irregular | 40 X 193.6 Ft |
| Size Total Text | 40 X 193.6 Ft |
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May 26 2026 11:34:52
Toronto Regional Real Estate Board
RE/MAX Professionals Inc.