Property Overview & Key Characteristics
This is a unique, one-storey home in Elmhurst, built in 1961, sitting on an exceptionally large lot of over 33,600 square feet. Its primary appeal lies in the land itself—a rare, expansive canvas in the city that offers immense potential for gardening, recreation, or future expansion. The house is modest at 1,090 sqft with a finished basement, and it does not have a garage. Its rankings highlight a clear contrast: while the property size is in the top 1% for the neighbourhood and city, the house itself is older and more modest in scale compared to surrounding homes. This creates a compelling opportunity for a specific buyer.
It would perfectly suit a buyer looking for a long-term project or a private outdoor oasis. It’s ideal for someone with vision—perhaps a family wanting space for children and pets to roam, a hobbyist gardener, or an owner planning a significant renovation or eventual rebuild who values the premium lot size over a move-in-ready home. The value proposition is the land; the existing house provides functional living space while you plan.
Frequently Asked Questions
1. What does the "finished basement" include?
The listing notes a finished basement but does not specify the extent. Buyers should inquire about the finish quality, ceiling height, legal egress, and whether it includes a bathroom or separate entrance to understand its true utility.
2. Why is the assessed value relatively low compared to the lot size?
The municipal assessment likely reflects the age and modest size of the dwelling itself. The significant premium for the oversized lot may not be fully captured in the assessment, which is a common dynamic for properties where the land value outweighs the improvement value.
3. What are the possibilities for adding a garage or outbuilding?
With such a large lot, adding a detached garage or workshop is likely feasible. Buyers must verify specific zoning bylaws, setback requirements, and any restrictive covenants with the city before making plans.
4. How does the age of the home (65 years) affect immediate priorities?
While systems may have been updated, a home of this age warrants thorough inspections of foundational structure, plumbing, electrical, and roofing. Budgeting for maintenance or updates to these core components should be a primary consideration.
5. The rankings show the house is older and smaller than most in the area. Is that a concern?
This isn't inherently a concern but defines the opportunity. It suggests the immediate neighbourhood may have newer or larger homes, which could be a positive for future values. The key is to ensure the purchase price accurately reflects the condition of the home itself, recognizing you are primarily investing in the land.