In the heart of Toronto’s prestigious Hoggs Hollow neighborhood lies a once-in-a-lifetime opportunity for prospective homebuyers and builders alike. The stunning property at 27 Old Yonge Street, now listed at $6,250,000, is a remarkable one-acre gem that promises both land value and potential for transformation. Having been in the same family for decades, this residence not only offers a glimpse into Toronto’s architectural history but also lays the groundwork for modern living amidst nature’s beauty. With the city’s real estate landscape changing, this unique offering is not just a home; it’s a canvas waiting for the right vision.
Key Takeaways
- 27 Old Yonge Street is a rare one-acre property in Toronto now listed at $6,250,000.
- The home, originally built in 1925, requires significant renovations but boasts valuable architectural features.
- This listing presents a unique opportunity for buyers interested in restoring or redeveloping in a desirable area of the city.
Overview of 27 Old Yonge Street
Nestled in the picturesque Hoggs Hollow neighborhood of Toronto, 27 Old Yonge Street presents a rare opportunity for discerning buyers looking to invest in one of the city’s most sought-after locales. Priced at $6,250,000, this remarkable property has been lovingly held by the same family for decades, making its current listing a significant event in the real estate market. The primary allure of this listing lies in its expansive one-acre lot, a rarity in a city where space is becoming increasingly scarce. While the charming home itself, built in 1925, shows signs of neglect and requires substantial renovations, it still boasts original architectural features that tell a story of craftsmanship—think hardwood floors and exquisite stained glass windows. With four spacious bedrooms and three bathrooms, the property can serve as a comfortable residence while offering potential for modernization. Set on a hill adorned with mature trees, the property provides a haven of privacy and stunning views, a peaceful escape from the hustle and bustle of urban life. Previously listed at nearly $9.9 million two years ago, the current price reflects the ongoing adjustments in the real estate market, embracing a cooler climate. This situation presents a unique chance for buyers interested in either restoring the historic home or starting anew with a custom build, making 27 Old Yonge Street a compelling opportunity in Toronto’s ever-evolving real estate landscape.
Potential and Investment Opportunities
Investors looking to tap into Toronto’s dynamic real estate market will find 27 Old Yonge Street an enticing option not just for its charming aesthetics but also for its strategic investment potential. The property’s generous one-acre lot, situated in the desirable Hoggs Hollow area, stands out as a rare find amidst the city’s escalating density. Renovation enthusiasts can envision revitalizing the existing structure, which, despite its age, is anchored by key architectural elements that add character. Moreover, the surrounding landscape enhances the property’s appeal, providing both privacy and a picturesque setting, making it a prime target for those considering luxury custom builds. As the cooler market conditions create openings for competitive pricing and favorable negotiations, prospective buyers are encouraged to consider the long-term value of such unique land holdings in Toronto. With urban sprawl making vast parcels harder to come by, 27 Old Yonge Street represents not merely a home, but an investment in a legacy—whether that be through restoration or new construction.
