50 Elinor Avenue Toronto, Ontario M1R 3H4
$1,199,999
Welcome to a rare opportunity that blends charm, space, income potential, and future upside - all on an exceptional 40 x 193 ft lot. This beautifully maintained 3+2 bedroom bungalow offers versatility for investors, multi-generational families, or buyers looking to live while generating substantial rental income. The main level features a warm and inviting layout with an updated kitchen complete with quartz countertops (2025), new appliances (2025), and bright living spaces. The finished basement includes two separate tenanted units - a bachelor suite and a 1-bedroom, 1-bath suite - currently generating $3,140/month in rental income, with total projected income potential of approximately $6,140/month including the main level. What truly sets this property apart is the land and future development potential. The massive backyard offers exciting possibilities for a future garden suite, rear addition, or even a custom new-build opportunity (buyer to complete their own due diligence). The large detached 2-car garage already includes existing water and power supply, creating excellent potential for a future garage conversion into one or possibly two additional income-generating units. Extensively updated and well cared for, this property features a new roof (2025), repaired and cleaned gutters (2026), basement renovations (2021), and epoxy garage flooring (2023). Solar panels help offset utility costs by approximately $300-$400/month on average. Whether you're searching for a smart investment, a multi-income property, or a home with long-term redevelopment potential, this property delivers endless possibilities on an oversized lot in a highly desirable setting. (id:61852)
Open House
This property has open houses!
2:00 pm
Ends at:4:00 pm
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Ends at:4:00 pm
Property Details
| MLS® Number | E13177558 |
| Property Type | Single Family |
| Neigbourhood | Wexford |
| Community Name | Wexford-Maryvale |
| EquipmentType | Air Conditioner, Water Heater |
| Features | Carpet Free, Solar Equipment, In-law Suite |
| ParkingSpaceTotal | 9 |
| RentalEquipmentType | Air Conditioner, Water Heater |
| Structure | Patio(s), Outbuilding |
Building
| BathroomTotal | 3 |
| BedroomsAboveGround | 3 |
| BedroomsBelowGround | 2 |
| BedroomsTotal | 5 |
| Appliances | Water Heater, Water Heater - Tankless, Garage Door Opener Remote(s), Dishwasher, Dryer, Stove, Washer, Window Coverings, Refrigerator |
| ArchitecturalStyle | Bungalow |
| BasementDevelopment | Finished |
| BasementFeatures | Apartment In Basement, Separate Entrance |
| BasementType | N/a, N/a (finished), N/a |
| ConstructionStyleAttachment | Detached |
| CoolingType | Wall Unit |
| ExteriorFinish | Brick |
| FireProtection | Security System, Smoke Detectors |
| FoundationType | Block |
| HeatingFuel | Electric |
| HeatingType | Baseboard Heaters |
| StoriesTotal | 1 |
| SizeInterior | 700 - 1100 Sqft |
| Type | House |
| UtilityWater | Municipal Water |
Parking
| Detached Garage | |
| Garage |
Land
| Acreage | No |
| FenceType | Fenced Yard |
| LandscapeFeatures | Landscaped |
| Sewer | Sanitary Sewer |
| SizeDepth | 193 Ft ,7 In |
| SizeFrontage | 40 Ft |
| SizeIrregular | 40 X 193.6 Ft |
| SizeTotalText | 40 X 193.6 Ft |
Interested?
Contact us for more information
Marc Routhier
Salesperson
4242 Dundas St W Unit 9
Toronto, Ontario M8X 1Y6
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May 27 2026 12:46:23
Toronto Real Estate Board
RE/MAX Professionals Inc.