$2,590,000 - 29 Grace Street, Downtown Toronto
Detached for Sale in Downtown Toronto
126 days on market- MLS Number
- C12778328
- Property Type
- Detached
- Status
- active
- Days on Site
- 126
- Bedrooms
- 7
- Bathrooms
- 5
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Listing Brokerage
- LPT REALTY
Welcome To 29 Grace St Featuring *** 3 Separate Income-Generating Units *** Earn Up To $12,500/Month From Three Distinct, Self-Contained Spaces - Ideal For Investors, Multi-Generational Families, Or Those Seeking Flexible Living Options. This Renovated 2.5-Storey Home Blends Timeless Charm With Modern Design, Offering A Legal Basement Suite With Separate Entrance And A Custom-Built Laneway Suite. The Main Home, Updated In 2024, Showcases Brand-New Windows, Wide-Plank White Oak Engineered Floors, A Custom Kitchen With Stainless Steel Appliances, Generous Cabinetry, And A Dedicated Dining Area Flowing Into A Bright, Cozy Living Room With Fireplace. Upstairs, The Second Level Features Three Spacious Bedrooms, An Updated Main Bath, And A Large Laundry Area With Space For A Creative Workspace. The Third Floor Offers A Sleek 3-Piece Bath, Flexible Living Area, And Stunning Skyline Views Including The CN Tower. The Legal Basement Suite Boasts 8-Ft Ceilings, Two Bedrooms, Two Bathrooms, Full Kitchen With Breakfast Bar, Stainless Steel Appliances, And In-Suite Laundry - Perfect For Strong Rental Income. The Laneway Suite (2023) Includes Parking For Two, One Bedroom, Open-Concept Living/Dining, In-Suite Laundry, Skylight, And Rooftop Space - Ideal For Guests, Tenants, Or Extended Family. Enjoy Summer Entertaining In The Private Backyard Oasis. Further Upgrades Include New Roof (2023), Furnace, A/C & Tankless Water Heater (2025). Furniture Negotiable. Steps To Trinity Bellwoods Park, Shops, Cafes & Restaurants - Urban Living At Its Finest!
Estimate your monthly payments for this property
Estimated Payment
$11,456.44/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.
29 Grace Street, Downtown Toronto / Waterfront
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Rental income estimator & ROI calculator
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 $1727/sqft, this property is priced above the Downtown Toronto 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.
Negotiation Opportunity
At 126 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 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.
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 $10,792 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.