This Toronto house was divided by landlord into 15 separate units
As Toronto grapples with a housing crisis, one landlord has decided to divide a single house into 15 separate units.
The red brick Annex house, coined “The Grand Old Lady,” is located on 55 Madison Avenue, near Bloor Street and Spadina Avenue.
55 Madison Avenue (Julian Mendl/ Toronto-Pix). The three-storey property is currently for sale, listed for $5,395,000.
Real estate agent Les Wallace told CTV News Toronto that whoever buys it has the potential to pull in a net yearly income of $208,782.
Wallace said four of the units in the Annex house are one-bedroom suites, while the remaining 11 are studio apartments.
The detached Victorian-style house was first constructed in 1896, which is captured in the house’s semi circle arches and rusticated stone foundation, according to Architectural Conservancy Ontario.
55 Madison Avenue (Julian Mendl/ Toronto-Pix). The ACO lists Samuel Platt as the first owner of the house who served as a city councillor from 1845 to 1851.
The property listing details that eight of the units are recently renovated with photos displaying white paneled splash boards and new kitchen appliances in those spaces.
The 50 by 126 foot lot also includes a private driveway with a detached garage.
CTVNews.ca Top Stories
Police arrest 3 Indian nationals in killing of B.C. Sikh activist Hardeep Singh Nijjar
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
TD worst-case scenario more likely after drug money laundering allegations: analyst
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
Human remains found in rural Sask. possibly a decade old, RCMP say
RCMP say human remains found in a rural area in central Saskatchewan may have been there for a decade or more.
Police officer hit by driver of fleeing vehicle in Toronto
York Regional Police say they are continuing to search for a suspect in an auto theft investigation who was captured on video running over a police officer in Toronto last month.
Five areas Canada's foreign interference commissioner says needs more investigation
Commissioner Marie-Josee Hogue released her interim report examining foreign election interference on Friday. Here are five elements of the issue that Hogue says she needs to further probe before she can make conclusions or recommendations.
New weight-loss drug Wegovy not a 'magic bullet,' doctor warns
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
Drew Carey is never quitting 'The Price Is Right'
Drew Carey took over as host of 'The Price Is Right' and hopes he’s there for life. 'I'm not going anywhere,' he told 'Entertainment Tonight' of the job he took over from longtime host Bob Barker in 2007.
Why your airfare may be getting more expensive
Skyrocketing airfare prices are linked to heightened competition and rising food and fuel, according to the CAA.
Manitoba man sentenced to house arrest for keeping fishing tournament funds meant for Children's Hospital Foundation
A Manitoba man who pleaded guilty to keeping the funds raised from an ice-fishing fundraiser for the Children's Hospital Foundation of Manitoba has been handed a sentence of 18 months house arrest.