If you've ever dreamed of being a landlord, 8 First Ave. is the golden ticket to turn that dream into a lucrative reality.

This fully renovated Edwardian semi boasts a legal basement apartment with a separate entrance and a stunning laneway house, complete with a second-floor studio and ample space for your car.

Both of these separate units offer an unparalleled opportunity to significantly reduce your living costs.

A lounge area on the third floor. 

Let's crunch some numbers, shall we? With just a 20 per cent down payment, these separate units could effortlessly cover close to half of your mortgage. Yes, you read that right.

The basement unit's kitchen. 

According to the listing, the rental income potential for the basement unit is estimated at $2,100 per month for long-term rental or an impressive $6,000 per month for short-term stays.

The laneway house. 

Meanwhile, the laneway house could fetch $2,000 per month for long-term rental or a staggering $6,000 per month for short-term stays.

The laneway house studio. 

That's a potential annual income of $49,200 for long-term rentals or an eye-popping $121,200 for short-term stays. Just think how much of your mortgage that could cover!

The laneway house from the laneway. 

So you could be basking in the comfort of your own home while simultaneously having the rental income from the basement and laneway house take care of the rest of your housing expenses.

A rooftop patio. 

Not in it for the money? That's cool too. This property provides a perfect solution if you have a family member you need to look after without having them cramp your style. 

The living room. 

Now, not only is this four-bedroom, five-bathroom home paying for itself but it's also gorgeous. 

The primary bedroom. 

"This home was built out from the studs. It's a complete gut and rebuild," listing agent Alexander Evans told blogTO.

One of the bathrooms with beautiful brass features. 

And the owners, who are builders, really brought their A-game. 

A small mud-room area off the kitchen. 

The attention to detail and quality craftsmanship is evident in every nook and cranny with top-of-the-line finishes spread throughout the home.

The dining room. 

The open-concept main floor is a sight to behold with its stunning flat-panel custom kitchen.

The kitchen. 

Dacor stove, wall oven, built-in fridge, and oven, this kitchen is a haven for culinary enthusiasts.

The open concept main floor. 

The spacious living room, complete with a cozy gas fireplace, beckons you to unwind and relax after a long day.

Another bedroom. 

So if you've been on the lookout for a turn-key property that not only offers an exceptional living space but also boasts an incredible opportunity for financial stability or caregiving arrangements, 8 First Ave. is the address you should be eyeing. 

The back of the house. 

8 First Ave. is currently listed for $2,665,000 but has been on and off the market several times this year and has come down from $2,899,000, so you may even have some negotiating power here.