A quirky Toronto live/work building in King West has been playing real estate ping-pong for nearly four years -- and it's back on the market yet again.
Located at 115 Walnut Ave., this three-storey detached property has been on and off the market since 2021, when it was first listed for a cool $5,282,500.
Since then, the price has bounced around like a tennis ball on the courts across the street in Stanley Park -- dropping as low as $2,475,000 in 2023 before being relisted this fall for $3,750,000.
The living room in one of the units.
So, what makes this building both fascinating and apparently hard to sell? For one, it's not your typical home.
Unlike the row of charming Victorian semis next door, 115 Walnut Ave. is a grey, blocky modern structure that sticks out like a sore thumb -- or maybe a bold architectural statement, depending on your taste.
The kitchenette in the office space.
And it's not just the look that makes it stand out. It's zoned for both residential and commercial use, meaning you can live here, work here, or do a little of both.
The property spans 3,877 square feet of finished indoor space, split across three levels, with a private rooftop patio and two parking spots out back.
Inside, it's a true hybrid. The main floor has served as an office and design studio, complete with a large reception area, private offices, a screening room, and a loading dock -- perfect for creative professionals or small businesses.
The upstairs unit.
Upstairs is a self-contained residential suite that's apparently hosted everyone from visiting actors to designers.
It features a full kitchen, modern bathroom, Murphy bed, and a sunny rooftop terrace overlooking the park.
A bathroom.
Down below, there's another fully equipped suite with its own kitchen, bathroom, and laundry -- proof that even basements in this building are bright, functional, and stylish.
Across the street, you've got Stanley Park with its tennis and pickleball courts, off-leash dog park, and outdoor pool -- an ideal setup for anyone craving that elusive downtown work-life balance.
And if all that wasn't enough, the property comes with an approved City of Toronto variance to expand by an additional 1,661 square feet of indoor space plus 762 square feet of balconies and rooftop decks -- a tempting opportunity for investors or entrepreneurs who see its potential.
Still, despite all that flexibility, space, and location, 115 Walnut Ave. just hasn't found its match -- which is, frankly, kind of weird.
Maybe it's the niche appeal, or perhaps it's just that no one really buys houses in King West. In fact, only one detached home has sold in the neighbourhood in the past year, and before that, the last one sold in 2021.
So maybe it's not the house that's the problem. Perhaps the right visionary just hasn't come along yet.
Either way, after four years and several price tags, here's hoping 2025 is finally the year 115 Walnut Ave. finds a buyer.