It's remarkable what you can do with an old Victorian home in Toronto. Spend enough on a renovation effort, and you can create something that feels entirely new. Such is the case at 226 Lippincott St., where a major update has delivered a contemporary home with old brick bones.

You wouldn't know the extent of the renos here from the street, but once you see the house from the backyard, it starts to become obvious how much work has been done, including the addition of a fourth floor and the conversion of the third floor into a master suite.

While the backyard is a bit drab, the "studio" garage does indeed look like it's worthy of more than just vehicle parking, and the balcony off the master bedroom adds some highly desirable outdoor space. A well finished basement doesn't hurt the usable square footage, either.

A couple of years ago, the idea that this house would command a $2.3 million list price would have probably drawn snickers, but it looks the part know that it's got a Wolf range, an exposed staircase, and heated floors.

Specs

• Address: 226 Lippincott St.
• Price: $2,295,000
• Lot Size: 15.75 x 125 feet
• Bedrooms: 4 + 1
• Bathrooms: 3
• Parking: 3
• Walk Score: 92
• Transit Score: 100
• Listing agent: Myles Slocombe
• Listing ID: C3937364

Good For

A family that wants to live in the city but needs the space typically offered by houses further from downtown. The fourth floor and finished basement really help here.

Move On If

You want more room to entertain. This house doesn't have too many shortcomings, but the dining room isn't really party-quipped.

Thanks to Bosley Real Estate Ltd., Brokerage for sponsoring our house of the week. All editorial written and selected by blogTO.