Live in style and invest wisely! Discover a rare opportunity in one of Toronto's most desirable neighborhoods - the vibrant Junction Triangle-Little Portugal. Welcome to 151 Wallace Avenue, a fully renovated and highly versatile property in the heart of a dynamic, fast-growing community. It is a legal duplex, perfect for investors, first-time buyers, or multi-generational living, this home offers exceptional flexibility. Enjoy income potential from two rental units, or easily convert it into a spacious single-family residence with a separate basement suite for added revenue. Ideal for house-sharing - live in one unit, rent out the other, and watch your equity grow! This turnkey property is fully leased at strong market rents - see attached financials. The main floor features a bright two-bedroom unit with access to a private backyard and a walkout deck perfect for relaxing. Upstairs, you'll find a three-bedroom suite with a renovated bath and a sunny balcony. The basement includes a separate entrance, above-grade windows, and large bedrooms - all with in-unit laundry. The south-facing backyard is perfect for summer BBQs and gatherings with friends and family, with one front yard parking spot and a second accommodated adjacently. This property has future potential for back extension and or garden suite to increase value. Location is unbeatable - steps from local cafés, bakeries, Toronto's best Korean fried chicken spots, breweries, and the TTC. This isn't just a home - it's a lifestyle investment in one of the city's most exciting communities with outstanding further growth potential.
Address
151 Wallace Avenue
List Price
$1,649,000
MLS® Status
New
Expiration Date
2026-01-05
Property Type
Residential Freehold
Type of Dwelling
Detached
Style of Home
2-Storey
Transaction Type
Sale
Area
Toronto W02
Sub-Area
Dovercourt-Wallace Emerson-Junction
Region
Toronto
Bedrooms
5 + 2
Bedrooms (Total)
7
Rooms Above Grade
7
Rooms Below Grade
3
Rooms (Total)
7
Bathrooms
3
Floor Area
1500-2000 Sq. Ft.
Lot Size Source
Other
Lot Depth
112
Lot Shape
Rectangular
Lot Size Range (Acres)
< .50
Lot Size Units
Feet
Lot Width
22.17
Parcel Number
213110018
Parcel of Tied Land
No
Occupant Type
Tenant
Cross Street
Wallace & Landsdowne
Approx. Age
51 - 99 Years
MLS® Number
W12505844
Listing Brokerage
MCCANN REALTY GROUP LTD.
Basement Area
Finished
Postal Code
M6H 1V1
Parking
Front Yard Parking
Parking Places (Total)
1
Parking Spaces
1
Tax Amount
$6,372.04
Tax Year
2025
Site Influences
Controlled Entry, Deck, Fenced Yard, Library, Park, Porch, Public Transit, School
Exterior Features
Deck, Controlled Entry, Porch
Interior Features
Carpet Free, Separate Hydro Meter
Property Features
Fenced Yard, Library, Park, Public Transit, School
Central Vacuum
No
Family Room
Yes
Elevator
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Senior Community
No
Board Or Association
Toronto Regional Real Estate Board
Heating
Yes
Heat Source
Gas
Heat Type
Forced Air
Cooling Features
Central Air
Construction Materials
Brick
Direction Faces
South
Fireplace
No
Foundation Details
Block
Garage
No
Garage Type
None
Kitchens Total
3
Kitchens Above Grade
2
Kitchens Below Grade
1
Pool Features
None
Roof
Asphalt Shingle
Tax Legal Description
Plan M88 Pt Lots 28, 29 & 30
Waterfront
No
Sewer
Sewer