This $5 million Toronto home was designed by the same person who did Casa Loma
As you approach 3025 Queen St. E, or as locals refer to it, "Chateau de Quatre Vents" (Castle of Four Winds), the first thing you’ll notice is the stunning curb appeal. The turret, the intricate moulding, and the curved windows – this place is a beauty.
This is no surprise since this century-old home was actually designed by E.J. Lennox, the architect behind other revered landmarks in Toronto, like Casa Loma and Old City Hall.
But as beautiful as the exterior of the home is, the inside is a bit of a different story.
The home is a seven-unit multiplex that is currently in the process of being renovated.
The charm and character alone in this old house is something special, but right now that's kind of overshadowed by the amount of work left to do.
According to the listing, three of the units are "rent-able," while the other four units are currently under renovation.
The plumbing and electrical have been completed, but the finishing still needs to be done.
So right now, there's a lot of visible subflooring, open walls or no walls and exposed wires.
And renting out those finished three units might be a hard sell, since not many people want to live through a renovation that could take months.
If the previous renovations were not done properly or to code, it could further lengthen the time before you can start collecting rental income.
However, this property could be worth it for an investor with deep pockets and a passion for restoring old beauties.
When the renovations are complete, there will be five two-bedroom units and two one-bedroom suites.
According to the listing, 3025 Queen St. E has a projected gross income of $362,760.
While that gross income is nothing to laugh at, the property itself is worth a lot because it is unique.
Set 100-feet back from Queen St. E the home is surrounded by nature.
It also sits on a low bluff and offers unobstructed views of Lake Ontario from almost every spot in the house.
But even with all its potential and historical pedigree, Chateau de Quatre Vents has had a tough time selling.
Originally listed back in 2021 for $6,499,999, 3025 Queen St. E has been on and off the market at various price points for the better part of three years.
Now, it has been relisted at $4,849,000 and is being sold "as is".
Re/Max Hallmark Richards Group Realty
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