Sprawling 3-Acre Toronto Property Hits The Market For $2.4M

The thought of owning even a fraction of an acre in Toronto is a (wildly unaffordable) dream for the average person. So when the chance to own a whopping three acres of land near the Toronto waterfront comes up for considerably less than one would expect, it's bound to draw a few eyes.

The acreage at 3 Ledge Road in Scarborough was listed for sale on Monday, or rather, re-listed. Having been on and off the market a handful of times since April of this year, dropping its price nearly every time, the property is now asking $2,395,000 -- a more than $2M discount from its original asking price of $4.4M.

The property, which has been owned by the same family for 64 years, is described as a "hidden gem" located on "three acres of total seclusion." Being near the water, it not only has lake views that you can take in from the property itself, but is also just a few minutes from Brick and Pebble Beach and Bluffer's Park Beach.

On the land sits a four-bedroom, two-bathroom home that spans two storeys and more than 2,000 sq. ft. The listing positions the home as either a renovation opportunity or a tear-down to make way for "your dream estate."

Specs:

Address: 3 Ledge Road
Bedrooms: 4
Bathrooms: 2
Size: 2,000-2,500 sq. ft
Price: $2,395,000
Lot Size: 3 acres
Listed by: Nicole Digalakis, RE/MAX All Stars Realty Inc.

The current listing doesn't feature any interior photos, but photos from one of the property's previous listings reveal the house to be fairly dated with wall-to-wall carpeting and vintage wallpaper. But it does have a number of mid-century features that would undoubtedly be attractive to a buyer who appreciates that style, like the wood-panelled dining room, split-level layout, and built-in brick fireplace.

Off the living room is a massive terrace with enough space for an outdoor kitchen and multiple seating areas. It's separate from the wrap-around balcony that borders the southern side of the house.

Our Favorite Thing

With its multiple acres of trees and rolling lawns, this property doesn't look like it's in Toronto at all. And yet, it's located just a few minutes away from one of the city's biggest attractions -- the Scarborough Bluffs -- and all of the amenities on Kingston Road. It really is the best of both worlds.

It's no secret that the Toronto real estate market has slowed, but with a new (and very attractive) price, this hard-to-come-by property appears poised to sell.