$1,890,000 - 401 Melrose Avenue, Lawrence Park
Detached for Sale in Lawrence Park
127 days on market- MLS Number
- C12833376
- Property Type
- Detached
- Status
- active
- Days on Site
- 127
- Bedrooms
- 4
- Bathrooms
- 3
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- Lawrence Park / Bedford Park
- Listing Brokerage
- REMAX YOUR COMMUNITY REALTY
Surrounded by beautiful custom homes, this well-maintained 3 bedroom raised bungalow presents a rare opportunity to secure space, setting, and future architectural potential in established Bedford Park. Located in the highly coveted neighbourhood of Avenue Road & Lawrence, this property sits on a premium 35 x 150 ft south-facing deep lot, offering exceptional lifestyle, flexibility, and future vision in one of Toronto's most sought-after family-friendly communities. Set along tree-lined streets in a walkable neighbourhood close to top-ranked public and private schools, this is a location that continues to define & retain value. The main level features approximately 1,515 sq ft with three generous sized bedrooms, hardwood flooring, bright open living and dining areas, and two bathrooms including a convenient 2-piece ensuite. Large picture windows fill the home with natural light, creating a warm and inviting space ideal for everyday living and entertaining. A rare built-in double car garage with ample driveway parking for 6 cars add ultra convenience & storage. The finished walk-out basement with separate entrance offers outstanding versatility, complete with an eat-in kitchen, 3 piece washroom, recreation space & fireplace with potential for multi-generational living, caregivers, or in-law suite. Endless possibilities**Move in and enjoy as-is, renovate, or explore the property's expansion and modernization potential. The rare 35 ft frontage and substantial depth provide an ideal foundation for a custom architectural transformation or second-storey addition. **A conceptual front façade rendering photo included for illustration purposes only, showcasing how the existing footprint could be elevated into a modern two-storey design (subject to approvals)**. Unparalled location, steps to Avenue Road's renowned restaurants, shops, top schools, transit, minutes to Hwy 401, Don Valley Golf Course, and premier private clubs. Survey Available!
Estimate your monthly payments for this property
Estimated Payment
$8,360.11/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 Lawrence Park / Bedford Park
Lawrence Park / Bedford Park 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 Lawrence Park / Bedford Park
- •Convenient location in Lawrence Park / Bedford 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
Lawrence Park / Bedford Park 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.
401 Melrose Avenue, Lawrence Park / Bedford Park
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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 $1260/sqft, this property is priced above the Lawrence Park 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 127 days on site, this property has exceeded the typical selling timeline for Lawrence Park. 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 Lawrence Park 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.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to Lawrence Park. Good resale value as demand remains consistent.
Bathroom Count Matters
With 3 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: Lawrence Park properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $7,875 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.