Toronto mansion is for sale at $10 million but comes with a major catch
If you've ever dreamed of living like royalty in the heart of one of Toronto's most prestigious neighbourhoods, 253 Dunvegan Rd. might just be your castle.
This spectacular English manor mansion sits on a rare and expansive lot – we're talking 70 feet of frontage and 172 feet of depth – right on Billionaire's Row in Forest Hill.
It's basically a country estate in the city, surrounded by lush gardens and featuring a grand circular driveway that immediately gives you that "wow" moment when you arrive.
The house boasts over 8,000 square feet of living space across three storeys and is filled with timeless architectural details, including beautiful century-old wood trim, which gives the place so much character and warmth.
The principal rooms are "graciously proportioned", making every corner of this home feel like it was designed for grand soiree.
The kitchen, while a bit dated, is spacious with breakfast area and multiple skylights that bathe the room in natural light.
On the second floor, you'll find the primary suite, complete with two dressing rooms, a cozy sitting area, and dual ensuite bathrooms.
Yes, you read that right—each side of the room has its own bathroom, giving you all the privacy and luxury you could ever want.
Two extra full bedrooms with ensuite bathrooms are also located on this floor.
The third floor? It’s like having a whole other house up there!
There are two more bedrooms, a four-piece bathroom, and a large family lounge.
In the basement, you have all the fun stuff, like an entertainment and games room, a recreation room, and even a sauna and steam shower. There's also tons of storage space and a bedroom with its own ensuite.
The backyard is pretty standard with a lawn and patio, but it will still be a great backdrop for summer BBQs, garden parties, or just a quiet afternoon with a book.
The one tiny footnote with 253 Dunvegan Rd. is that it's currently tenanted, and the tenant is keen to stay.
The tenant is currently paying $15,000 a month, according to the listing, and while that seems like a lot, it wouldn't even cover half the monthly mortgage payments.
253 Dunvegan Rd. is listed for $9,885,000, which means mortgage payments on a house like this clock in around $46,000 a month with a 20 per cent down payment.
So, no wonder the tenant is keen to stay!
But while the rental income might not be market rate for a place like this, it is a great way to avoid paying vacant property tax or unoccupied house insurance while you get building permits and plans drawn up for a renovation or new build.
Listing agent Tyler Cohen told blogTO that's precisely what the current owner and the tenant had agreed to.
However, the current owner, even though he bought the house only last year, has decided to capitalize on the eight per cent increase in property values in Forest Hill and cash out.
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