Dilapidated Toronto house sells for $1.2M, going $451K over asking

Dec 29 2021, 9:13 pm

If it seems like houses are selling well over the asking price nearly every single day, that’s because they are. But some are going for jaw-droppingly high amounts, including one dilapidated semi-detached Toronto house that just sold a whopping $451,000 over asking.

Located at 68 Caroline Avenue in Toronto’s Leslieville neighbourhood, the run-down house with peeling ceilings and walls hit the market with an asking price of $799,000. It sold just one week later for $1,250,000.

Century 21 Parkland Ltd.

toronto house over asking

Century 21 Parkland Ltd.

According to the listing, the home was at one time a three-bedroom, but one of the rooms was later converted into a kitchen. The listing also says that the home is in its original condition which, considering the wear and tear, isn’t too hard to believe.

The listing photos reveal that on both the ceiling and walls, chunks of drywall have fallen off or are peeling. Many areas of the floor are extremely worn, the basement remains unfinished, and in one of the two bathrooms, the tiling is chipped.

Century 21 Parkland Ltd.

Century 21 Parkland Ltd.

Despite its clear need for a gut renovation, there are a number of features that would have likely attracted such a motivated buyer to this house. Not only does the property come with parking, but it also has a detached laneway garage, which, if converted into a laneway house, could mean either more space for the owner or possible rental income.

toronto house over asking

Century 21 Parkland Ltd.

And although small in size, there is also some outdoor space between the home and the garage. The house is also located in a convenient area, close to the TTC, stores, and the waterfront.

Whether or not you would have paid this much over asking for a house in Toronto that requires an extensive renovation, one thing’s for sure: the buyer certainly has their work cut out for them.

Laura HanrahanLaura Hanrahan

+ Real Estate
+ Urbanized
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