Roxton Road: Potential Family Home in Toronto
Discover 308 Roxton Road, a two-storey house in a family-friendly neighborhood of Toronto. This property offers excellent renovation potential, allowing for a potential third-floor addition and a spacious main-floor family room. Perfect for growing families seeking to customize their dream home.
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Little Italy: 308 Roxton Rd $1.1M - 3BR - 3 WR - 17 x 126 ft lot - SOLD
A rare opportunity in one of Toronto's most sought-after neighbourhoods. Offered for the first time in nearly 80 years, 308 Roxton Road is ready to be reimagined-a classic Toronto home in the heart of Palmerston-Little Italy with extraordinary potential.This three-bedroom, two-bathroom semi-detached home is ideally suited to builders, renovators, and investors alike. Whether your vision is a thoughtful restoration, a complete renovation, or unlocking its investment potential, this classic Victorian home offers an outstanding opportunity.Offering approximately 1,416 square feet above grade on a deep 17.5 x 126-foot lot, the property enjoys an outstanding location just north of College Street and east of Ossington Avenue. The generous lot depth and rear laneway access offer exciting potential for a future two-car garage and laneway suite, subject to buyer verification of all applicable City of Toronto approvals, permits, zoning requirements, and due diligence.Enjoy everything Palmerston-Little Italy has to offer, with vibrant cafes, restaurants, shops, TTC, parks, schools, and bike routes just steps from your door. Surrounded by beautifully restored homes, 308 Roxton Road is ideally positioned in a neighbourhood where thoughtful renovations continue to enhance both character and value.Opportunities combining a prime location, generous lot, and laneway access rarely come to market. Bring your contractor, your architect, and your vision to unlock everything this remarkable property has to offer.
Nick's Notes:
Are you out and about this summer looking at open houses? Perhaps you are getting ready to move in the fall, or searching for a deal during the dog days of summer. The opportunities exist right now, provided you have the patience to find them. There is meaningful inventory in certain segments.
Having said that, how often have you been excited to view a property because it appears to be a gem at a great price, only to leave disappointed? Even in this very forgiving market, making a move in Toronto is not easy.
This is partly because, as the market changes, our expectations change with it. Prices may be down significantly from their highs, but there is also more uncertainty and more perceived risk. If you are risk-averse, making a major decision in this climate can be challenging. How you assess that risk matters. The better you understand yourself and what is important to you, the more confidently you can walk out of an open house, submit an offer or put a for-sale sign on your front lawn.
I can’t help but value the old Victorians now coming to market in prime neighbourhoods. This is a rare period in Toronto when end-users may have an opportunity to buy these homes with less competition from investors and house flippers.
Sitting on Roxton Road, albeit across from the Central Toronto Academy field, 308 Roxton has the potential to become a family home in a family neighbourhood, with room to expand as your needs change. It is currently a two-storey house, while the attached neighbour has a third floor. It also has an older rear addition that could become a main-floor family room with a walkout to the garden.
You would likely choose to substantially renovate the main floor, particularly given the narrow hallway. Much of the second floor may be able to remain relatively intact, while preserving the option for a future third-floor addition. That future addition would not need to be built immediately, but it should be considered when planning the initial renovation.
There are the usual signs of age, deferred maintenance and hastily completed plaster repairs, but I did not see an obvious deal-killer during my viewing. That is not saying that one does not exist. The house has forced-air gas heat and central air. From an appraisal and renovation standpoint, the more consequential attribute is the full, but very low unfinished basement. It is under six feet high and would need to be lowered before it could become useful living space.
The house also appears to be wood-frame construction, with a brick front and insulbrick siding. There is replacement brickwork over the front window that should be noted. These are only a few of the items likely to arise during an inspection. As the listing notes, it's helpful bring a contractor to help judge the scope and and cost.
At the $1.1-million asking price, the cursory calculation is to add another $450,000 or $500,000 and compare the result with what you can buy for approximately $1.6 million. Unfortunately, renovation math is rarely that exact.
At list price, provincial and Toronto land transfer taxes bring the acquisition cost of 308 Roxton to approximately $1.137 million before legal fees. A true $500,000 all-in renovation would therefore put the buyer at roughly $1.64 million before financing costs, temporary accommodation and the cost of being wrong. Buying a completed house for $1.65 million would cost approximately $1.71 million after land transfer tax. The initial saving is only about $70,000, which is not a great deal of compensation for taking on the risk and managing a major renovation.
I believe $450K to $500K may be enough to create a great two-storey family home, provided the basement remains low and unfinished, much of the second floor is retained, the rear addition is sound and no major structural or mechanical surprises emerge.
Once you underpin and finish the basement, I would work with a more conservative budget of at least $600K. A third-floor addition is another major project altogether. It does not need to be completed immediately, but it should be planned for from the beginning so that the first renovation does not interfere with the second.
Below I have included revovated homes nearby that have sold in 2025-2026. The comparable sales support both sides of the argument. At around $1.58 million, you can buy something finished, although not necessarily comparable. One property is configured as three units, another is smaller and more modest, while another has an older renovation and an unfinished basement.
The more persuasive finished alternatives begin around $1.63 million to $1.65 million. Both 461 Grace Street and 351 Montrose Avenue offer finished lower levels and parking. At approximately $1.72 million, 376 Montrose Avenue and 382 Rusholme Road show where the more complete family homes begin.
After doing the research, I was surprised by how few strong renovated comparables have sold in the immediate neighbourhood since the beginning of 2025. None is a perfect match for what 308 Roxton could become. More importantly, there have also been relatively few compelling finished houses for a buyer to choose from. That limited selection gives some additional weight to the argument for creating the house yourself. I also hear that 304 Roxton Road may be coming to market, which could provide another useful point of comparison.
Is 308 Roxton a deal? It can be, but only for the right buyer.
It is not a discounted finished house. It is an opportunity to secure a particular location and Victorian shell, then direct the renovation budget toward your own priorities. A buyer who values certainty may be better off purchasing a completed home. The equation becomes more attractive for someone who can manage the project personally, complete some of the work or access construction at a lower cost. A buyer who values the location, expects to stay for the long term and is prepared to treat the renovation as a major project rather than a simple spreadsheet may find 308 Roxton Rd very appealing. Otherwise, it may be best to pay for the finished product or find a dated, but still very livable home that you can put the finishing touches on.
Appreciate my take? Give me a shout and let's talk about your next move.
Listed by A.J. Abbate - Re/Max Rouge River Realty
