265 Princeton Boulevard

Property Overview & Key Characteristics

This is a classic 1952-built, one-storey home on an exceptionally large, 13,000+ sqft lot in the established Varsity View neighbourhood. Its primary appeal lies in the rare combination of a central location and a vast, private land parcel that offers immense potential. The house itself is modest at 640 sqft with no basement, presenting it as a true blank canvas.

The property would best suit a specific type of buyer: a renovator or builder looking for a prime lot to extensively remodel or replace the existing structure, or an investor with a long-term hold strategy banking on land value. It’s less suited for those seeking a move-in-ready home without major project plans. A thoughtful perspective is that this property trades immediate comfort for long-term opportunity—the value is almost entirely in the land and location, requiring vision and capital to unlock.

Potential Buyer FAQs

1. What does "no basement" mean for this property?
It means the 640 sqft living area is all there is, with no lower-level storage, mechanicals, or living space. Utilities will be at ground level, and all storage needs must be planned within the footprint or in an external shed.

2. The lot is huge, but what can I actually do with it?
Beyond gardening, the size allows for significant additions, building a garage or workshop, or even subdividing the lot (subject to stringent city zoning and approval processes). Its value is in providing options that smaller lots do not.

3. The house ranks very low for size. Is it livable during a renovation?
Given its small size and age, a full renovation would likely be highly disruptive. Buyers should realistically budget for alternative accommodation during major work or plan for a complete rebuild.

4. How does the 1952 build year affect things?
Expect older building materials, electrical, and plumbing systems that would need updating to modern standards. This is a key factor in renovation costs and should be prioritized in any inspection.

5. The assessment is lower than typical area prices. Why?
The municipal assessment reflects the current state and utility of the existing small structure, not the potential value of the redeveloped lot. The market price will factor in the premium for the land's future possibilities.