Property Overview
This two-storey home on Grosvenor Avenue in Crescentwood presents a specific and compelling opportunity. Built in 1943, it sits on a generous, approximately 5,000 sqft lot that is above average for the immediate street. The home itself, with 1,443 sqft of living space, is more modest in size compared to many neighbours, suggesting a manageable footprint. A key feature is its renovated basement, and the property includes a detached garage.
Its primary appeal lies in its location within a desirable, established neighbourhood paired with a lot that offers potential. The assessed value is notably lower than many nearby properties, which could indicate an entry point into the area for the right buyer. This home would suit a practical buyer or investor who values location over immediate square footage. It's ideal for someone comfortable with a home that may be smaller or older than others on the block but who sees value in the land and the possibility of future updates or expansion, subject to necessary approvals.
Frequently Asked Questions
Q: How does the size of this home compare to the neighbourhood?
A: The living space is below average for both Grosvenor Avenue and Crescentwood overall. This means you're purchasing in a neighbourhood of typically larger homes, but this also contributes to a more accessible price point for the area.
Q: The assessed value seems low. What does that indicate?
A: While below average for the street, it's around average for the wider Crescentwood area and above average citywide. This suggests the property is valued for its neighbourhood but may reflect the home's smaller size or condition relative to its immediate, often larger, neighbours.
Q: What are the advantages of a larger lot on this street?
A: The lot size is above average for Grosvenor Avenue. This not only provides more outdoor space but can also be a significant long-term asset, offering more flexibility for gardening, recreation, or potential future additions than many neighbouring properties.
Q: Who would this property not be suitable for?
A: It may not suit buyers seeking a move-in-ready home with modern, open-concept layouts or those who need substantial living space immediately. It's better suited to those with a vision for gradual improvement or who prioritize location above current interior size.
Q: The home was last sold in 2017. Is that a concern?
A: Not necessarily. A seven-year ownership period is fairly typical. It does suggest the sellers have likely owned the home long enough to have undertaken some updates (like the basement renovation mentioned) and that their reason for selling is likely a life change rather than a quick flip.