Property Overview
This one-storey home on Oxford Street in Central River Heights is a property defined by its land and location more than its structure. Built in 1951, the house itself is modest at 967 sqft, which is notably smaller than most in the immediate area. Its key updated feature is a renovated basement. The lot, just under 4,800 sqft, is also smaller than many neighbouring properties but remains a good-sized city parcel. The home’s assessed value is consistent with averages for the street and neighbourhood. Its appeal lies in the sought-after Central River Heights location, offering a lower-priced entry point into the area with the potential for expansion or redevelopment on a solid lot. This would suit a first-time buyer seeking location over size, an investor, or someone looking for a manageable home with a renovation or build-over-time plan.
Frequently Asked Questions
Is this a teardown property?
While the living area is significantly smaller than area averages, the home is livable with a renovated basement. It could be a candidate for a major expansion or eventual replacement, but it is not strictly a lot-only purchase.
How does the lot size compare?
The land area of 4,798 sqft is below the average for both Oxford Street and Central River Heights. This means the lot is more typical of a standard city lot rather than the larger plots found on some streets in the neighbourhood.
What does the assessed value indicate?
The assessed value is around average for the street and neighbourhood, suggesting the official valuation aligns with its current state and location, not a future redeveloped value. The last sale price in 2020 was significantly lower.
Is the smaller living space a concern for resale?
The home’s size is well below local norms, which could limit its appeal to a narrower segment of the market looking specifically for a smaller, manageable footprint or a land opportunity. This is a key factor to weigh against the location benefits.
What is less obvious about this property’s potential?
The modest scale presents an opportunity for energy efficiency and lower maintenance costs. For the right buyer, it could function as a comfortable, affordable foothold in a premium neighbourhood without the upkeep of a larger character home, allowing resources to be directed toward gradual improvements.