$3,990,000 - 16 Elderwood Drive, Forest Hill
Detached for Sale in Forest Hill
Neighbourhood: Forest Hill South
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- MLS Number
- C13815398
- Property Type
- Detached
- Status
- active
- Days on Site
- 15
- Bedrooms
- 6
- Bathrooms
- 5
- Square Feet
- 3,000 - 3,499 sqft
- Neighbourhood
- Forest Hill / Deer Park
- Taxes (2025)
- $20,629
- Listing Brokerage
- RE/MAX HALLMARK REALTY LTD.
Elegance on a Rare 60-Foot Lot in Forest Hill South Ideally positioned on a premium 60-foot frontage in one of Toronto's most prestigious neighborhoods, this renovated residence blends timeless architecture with modern comfort. The main floor offers formal living and dining rooms with French doors and expansive windows that fill the home with natural light. An inviting family room with fireplace anchors the heart of the home, while the updated kitchen features newer appliances and ample space for everyday living and entertaining. With five generously sized bedrooms and five upgraded bathrooms, including a primary suite with a 6-piece ensuite, every detail speaks to thoughtful design and functionality. Highlights include hardwood floors and pot lights throughout, a finished basement with a separate entrance, and a self-contained second-floor Suite ideal for extended family, guests, or added income potential. Located within walking distance to Forest Hill Village, top-rated public and private schools, parks, restaurants, shops, and transit, this is a rare opportunity to own a beautifully upgraded home on one of Forest Hill South's most sought-after streets.
Estimate your monthly payments for this property
Estimated Payment
$17,649.12/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Forest Hill South
Forest Hill South is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Forest Hill South
- •Convenient location in Forest Hill / Deer Park
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Forest Hill South offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
16 Elderwood Drive, Forest Hill / Deer Park
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Premium Pricing
At $1330/sqft, this property is priced above the Forest Hill average of $950/sqft. I'd want to see upgraded finishes, premium location, or recent renovations to justify this price point. During our showing, I'll point out exactly what you're paying extra for.
Market Position
At 15 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Detached Home Advantages
Detached homes in Forest Hill are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Larger Home Realities
At 3,000 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Excellent Flexibility
With 6 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Forest Hill.
Bathroom Count Matters
With 5 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.