$1,999,900 - 661 Winona Drive, Forest Hill
Multi-Family for Sale in Forest Hill
- MLS Number
- C13125320
- Property Type
- Multi-Family
- Status
- active
- Days on Site
- 28
- Bedrooms
- 8
- Bathrooms
- 8
- Square Feet
- 3,500 - 3,999 sqft
- Neighbourhood
- Forest Hill / Deer Park
- Listing Brokerage
- RE/MAX WEST REALTY INC.
Stunning legal fourplex in sought-after Oakwood Village! Featuring 8 bedrooms, 8 bathrooms, custom quartz kitchens, hardwood floors, and stainless-steel appliances. Ideal for large families, multi-gen living, or investors. Easily used as a single-family home or live in one unit and rent the others. Fully finished, extra spacious and expansive 2 bdrm unit with large above grade windows and tons of natural light. Extremely well appointed luxury enhanced finishes thru-out with optimum layout at lower level. Rare income property in a high-demand, low-supply pocket. All units are separately metered for gas and hydro, water split at 25% per unit. Unit A $2100, B - $2450, C - $2550 and D - $2650 total gross $9750 per month rent.
Estimate your monthly payments for this property
Estimated Payment
$8,846.23/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Forest Hill / Deer Park
Forest Hill / Deer Park is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Forest Hill / Deer Park
- •Convenient location in Forest Hill / Deer Park
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Forest Hill / Deer Park offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
661 Winona Drive, Forest Hill / Deer Park
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Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $571/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Market Position
At 28 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Larger Home Realities
At 3,500 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Excellent Flexibility
With 8 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Forest Hill.
Bathroom Count Matters
With 8 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Investment Perspective
Looking at this as an investment: Forest Hill properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $8,333 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.