97 Lee Ave
The Beaches, Scarborough, M4E 2P2
FOR SALE
$8,499,000
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9 + 8
BEDROOMS11
BATHROOMS9 + 1
KITCHENS43
ROOMSE9372819
MLSIDContact Us
Property Description
Boutique living redefined in the heart of the Beaches. This iconic address boasts 6 multi-story lofts and 4 exquisite suites (10 large suites in total), following a significant two-year building restoration program (2021-23). With millions invested, 65% of the property's square footage has been meticulously upgraded to luxury standards. All remodeled suites immediately captured significantly higher rents, proving that investment case to continue with luxury renovation plans as tenants churn. Tenants desire large multi-level lofts, complete privacy, luxury renos, with surface parking and no elevators! Nestled on a spacious 75x125 ft lot, the building showcases 11,000 sq ft of living space, complemented by 10 surface parking spots, 10 personal storage lockers, and various alfresco areas. With a blend of contemporary luxury, timeless exposed brick and beam, elegant hardwood floors, and abundant natural light, steps to Kew Gardens, the boardwalk, Financial District and More.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2020-09-10 | 2020-12-31 | 112 | $3,994 | - | Expired |
Extras
Suites 1,3,4,8 were completely remodeled to luxury status (2021/23). Suite 6 is vacant presenting a unique rear Suite with private entrance that is expected to boost ROI post a luxury renovation. Suite 10 has provided N11.
Nearby Intersections
Queen & Woodbine (32)
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Property Details
Street
Community
City
Property Type
Multiplex, 3-Storey
Lot Size
75' x 125'
Fronting
West
Taxes
$22,203 (2024)
Basement
Apartment
Exterior
Brick
Heat Type
Baseboard
Heat Source
Electric
Air Conditioning
Wall Unit
Water
Municipal
Parking Spaces
10
Driveway
Private
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Kitchen | Main | 7.97' x 12.63' | Renovated, Stainless Steel Appl, Eat-In Kitchen |
| Living | Main | 16.31' x 29.79' | Hardwood Floor, Bay Window, Open Concept |
| Office | Main | 6.79' x 8.99' | B/I Closet, Window, Hardwood Floor |
| Br | 2nd | 10.20' x 13.29' | Hardwood Floor, Window, Closet |
| 2nd Br | 2nd | 8.99' x 12.20' | 3 Pc Ensuite, W/I Closet, W/O To Terrace |
| 3rd Br | 2nd | 8.99' x 12.04' | Hardwood Floor, Large Window, Closet |
| Loft | 3rd | 11.91' x 12.14' | Fireplace, Balcony, Hardwood Floor |
| Kitchen | Main | 7.81' x 12.63' | Renovated, Stainless Steel Appl, Breakfast Bar |
| Living | Main | 12.63' x 21.56' | Hardwood Floor, Open Concept, Combined W/Dining |
| Br | 2nd | 8.89' x 13.45' | Hardwood Floor, Large Window, Closet |
| 2nd Br | 2nd | 8.89' x 11.22' | Hardwood Floor, Closet, Large Window |
| Loft | 3rd | 13.16' x 13.42' | Balcony, Fireplace, Hardwood Floor |
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Scarborough Market Statistics
Scarborough Price Trend
97 Lee Ave is a 9-bedroom 11-bathroom home listed for sale at $8,499,000, which is $5,354,000 (170.2%) higher than the average sold price of $3,145,000 in the last 30 days (October 21 - November 19). During the last 30 days the average sold price for a 9 bedroom home in Scarborough increased by $1,046,112 (49.8%) compared to the previous 30 day period (September 21 - October 20) and up $1,195,000 (61.3%) from the same time one year ago.Inventory Change
There were 7 9-bedroom homes listed in Scarborough over the last 30 days (October 21 - November 19), which is down 22.2% compared with the previous 30 day period (September 21 - October 20) and up 75.0% compared with the same period last year.Sold Price Above/Below Asking ($)
9-bedroom homes in Scarborough typically sold ($54,900) (1.7%) below asking price over the last 30 days (October 21 - November 19), which represents a $3,788 decrease compared to the previous 30 day period (September 21 - October 20) and ($140,000) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 9-bedroom homes in Scarborough over the last 30 days (October 21 - November 19) stood at 14.3%, up from 11.1% over the previous 30 days (September 21 - October 20) and down from 25.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 9-bedroom 11-bathroom home in Scarborough stood at 6 days when successfully sold over the last 30 days (October 21 - November 19), compared to 122 days before being removed from the market upon being suspended or terminated.Listing contracted with Forest Hill Real Estate Inc.
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