Before & After - A Parkdale Renovation
Explore this renovated Parkdale home, featuring a functional layout, heated concrete floors, a spacious-feeling main floor, and a newly underpinned basement. Read the renovation review and discover what makes this property stand out in Parkdale real estate and Toronto homes for sale.
5 min read
AFTER - Parkdale: 62 Elm Grove Ave - $1.375M - 3 BR - 3 WR - 15 x 116 ft. lot - Offers Oct. 20
Renovated from the studs, this exceptional Queen West Victorian blends restored, timeless character with modern design and function. This almost 2,000 sqft, 3 bedroom, 3 bathroom home features a spacious, open plan living and dining space, soaring 10-foot ceilings, white oak floors and a designer kitchen with white oak cabinetry, a bar/coffee station, white quartz countertops and matching backsplash. Heated concrete floors and expansive window-wall sliders connects the main level to the sunny, west-facing backyard. The inviting front porch with restored brick and slate is an ideal place to sit back and relax and catch up with friends and neighbours. Upstairs, the east-facing primary bedroom offers two large closets and a sleek ensuite. The two additional bedrooms are a comfortable size and each include large windows and closets, the back room also features a walkout to a future west-facing balcony. The bright, underpinned, finished, 8' tall basement with separate entrance adds good potential for a separate apartment and significant additional living space, allowing for a large rec/living room, and a guest/office/workout or media room, and a spacious 3 piece bathroom all with heated exposed-concrete floors.
Nick's Notes:
As touched on in previous newsletters, there hasn’t been much of a market for flipping homes, even though much of the inventory today consists of properties that would have been prime candidates for renovation and resale five or six years ago. Most of the interest in the market over the last couple of years has been in move-in-ready homes in desirable neighbourhoods. As the market has deteriorated further, that scope has narrowed to function over form, value and very little tolerance for compromise.
For speculators, timing the bottom of the market is inherently risky and has yet to pay off. The world keeps throwing wrenches into Toronto's real estate recovery. The latest wrench is the ratcheting up of the trade war and rising bond yields, just as the market was stabilizing. Real estate is back to being a long-term investment, which may be interpreted as a positive development for those who have chosen wisely or didn’t participate in the peak froth. Although I suspect, for many, they now have no choice but to take a long-term view.
All this is to say, to flip a house right now, not only do you need to execute a renovation exactly on trend with what people are looking for, but you also need balls of steel. And a little luck.
Which brings us to 62 Elm Grove Ave in Parkdale. I remember viewing this property when it was listed last year. It was sitting on the market, not selling, and I was curious what the inside looked like. Maybe it wasn’t as bad as feared. I was wrong.
When viewing the property, the listing agent recommended you wear a mask and bring a flashlight. I brought the flashlight, but not the mask, as I viewed it as precautionary rather than required. I should have brought the mask, as I didn’t last long inside. The air was thick and heavy, and while I don’t want to speculate about what caused the poor air quality, just know the house was beyond what many would take on. It went through multiple large price reductions until it sold for $675K last fall.
The decision that follows is the most important. Do you hold the property until the market rebounds to execute the flip, or do it ASAP? If you do it right away, there is little margin for error because you can’t count on the market to help you. You have to create the value through the renovation and bet that the price you paid was below market.
They decided to flip it right away, and about one year later, the house has been fully renovated and is back on the market. The property owners are also the agents selling the house. They saw an opportunity and took the risk. Balls of steel.
After viewing the house, I can tell you the renovation has been completed on trend, with some interesting decisions. Due to its prior condition, the owners had little choice but to do a substantial renovation, but it’s the choices around functionality and layout that really matter. Some are simple decisions like adding a front hall closet or rebuilding the rear addition to create a family room.
Other decisions, such as adding a two-piece ensuite to the primary bedroom in place of additional closet space, or adding a balcony door to the third bedroom, further solidifying the room for office use, could be points for or points against depending on your use case. The smaller size of this row house makes these decisions ever so important.
What’s not disputable from a functionality standpoint is the decision to underpin the basement. The basement sells this house, in my opinion. From the staircase down, to the heated concrete floors, the ceiling height and the usefulness of the layout, it feels like a proper extension of the house rather than an afterthought. It is the perfect complement to the high ceilings on the main floor, which make the house feel incredibly spacious.
So they have executed a complete renovation, on trend, that I suspect most will find very appealing. I assume part of their equation is that the market will pay for a quality build. The tough part of the equation is that they haven’t gotten lucky with the fall market.
And there is another wrinkle! The attached neighbour, 60 Elm Grove Ave, has put their house on the market at the same time, holding offers one day before them on Oct. 19. The timing may simply reflect the fact that the renovation next door is finally complete, making this a more logical moment to sell, but it doesn't seem very neighbourly. Whatever the reason, having two attached homes competing for buyers at exactly the same time adds another variable to an already challenging market. I suspect this is another wrench they weren’t expecting.
Listed by Ian Legget, Leif Moore. Sage Real Estate
Before (2025): 60 Elm Grove Ave - $899K - $799 - $699 - Sold: $675K
This home is waiting for someone to transform it and bring back its glory. A 3-bedroom Victorian row house with high ceilings on one of Parkdale's most beloved tree-lined streets, this home has huge upside. Whether it's to renovate and live, update and sell/rent, this home has a ton of potential. Have the vision, make a plan and execute for a grand finale. Parkdale is one of Toronto's most distinctive and storied neighbourhoods. Located in west downtown Toronto, this vibrant community offers a rare blend of historic charm, artistic spirit, and urban convenience. Originally one of the city's wealthiest enclaves in the Victorian era, Parkdale is home to grand century homes with rich architectural details from intricate brickwork to soaring ceilings and stained glass. Many of these residences have been thoughtfully restored or reimagined, bringing new life to the neighbourhood while preserving its heritage. Parkdale has seen a cultural renaissance. It's now a hub for creatives, young professionals, and families who are drawn to its diversity, walkability, and strong sense of community. The neighbourhood pulses with energy thanks to its independent boutiques, vintage shops, art galleries, cafes, and some of the city's most celebrated restaurants and bars, all clustered along Queen Street West. Tree-lined streets, friendly faces, and a welcoming vibe define everyday life here. You're steps to transit, parks, the lake, and other surrounding neighbourhoods like Trinity Bellwoods, King West, Roncesvalles, and Liberty Village. West downtown staples The Rhino patio, The Drake Hotel and The Gladstone are just around the corner, and there's always something happening close to home. Parkdale isn't just a place to live, it's a place to belong.
