Confirm the permitted status first, because it decides who can even buy the property. A lender will credit rental income from a permitted, code-compliant suite and typically will not credit income from one that is not, which changes the pool of qualified buyers before a single offer arrives.
Assemble leases, a rent roll and twelve months of operating costs if tenants are staying, since existing tenancies carry over under The Residential Tenancies Act, 2006 regardless of who owns the building. A $400 to $600 home inspection matters more here than on a newer house, given the age of Mayfair's electrical and plumbing systems.
Conversions of this vintage almost always include work no permit file captures, framing, a second kitchen, rewiring done across several owners. Joel Dyck's hand-reviewed valuation separates what is documented from what was simply built, and prices the property against genuinely comparable Mayfair sales.
Get your hand-reviewed valuation from Joel Dyck.