$1,599,000 - 229 Bellwoods Avenue, Downtown Toronto
Detached for Sale in Downtown Toronto
124 days on market- MLS Number
- C12851738
- Property Type
- Detached
- Status
- active
- Days on Site
- 124
- Bedrooms
- 7
- Bathrooms
- 6
- Square Feet
- 2,500 - 2,999 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Listing Brokerage
- RE/MAX PREMIER INC.
This 2688 sqft home plus 932sqft of finished bsmt is a great investment property with 3 separate units, each with its own kitchen, and a separate entrance with a possibility of a 4th unit in the basement with a walk-up entrance. Live in one large unit. Mostly renovated with 2 bathrooms, 3 bedrooms, a large family room with high cathedral ceilings, and has income from the other 2 units. Across from a school, public park, church, public transit, potentially 5 units. Unique zoning "Residential Corner Lot, Zoned for Commercial Use". You can move in right away. Numerous updates and renovations. A must see, Immaculate Move-in Condition, One Unit has a very nice Tenant, willing to stay or go - Shows 10+++
Estimate your monthly payments for this property
Estimated Payment
$7,072.92/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 Downtown Toronto / Waterfront
Downtown Toronto / Waterfront 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 Downtown Toronto / Waterfront
- •Convenient location in Downtown Toronto / Waterfront
- •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
Downtown Toronto / Waterfront 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.
229 Bellwoods Avenue, Downtown Toronto / Waterfront
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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
Competitive Pricing
At $640/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 124 days on site, this property has exceeded the typical selling timeline for Downtown Toronto. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Downtown Toronto 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.
Excellent Flexibility
With 7 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 Downtown Toronto.
Bathroom Count Matters
With 6 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.
Investment Perspective
Looking at this as an investment: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $6,663 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.