A rare listing for a property in Toronto’s east end is catching some attention for its lower-than-average price. But there’s one catch — it’s a garage.
The Greenwood Avenue listing is selling for $599,000 and is described as a “rare opportunity for someone looking to build in desirable Danforth Village.”
It offers zero bedrooms, zero bathrooms, and just one parking spot.
Because it’s a garage.
“We don’t see listings like this very often in East York,” Jim Roberts, a Zoocasa sales representative who specializes in Toronto’s East End, told Daily Hive.
Roberts described this as a unique situation where the lot for sale was severed from an adjoining lot. The owner is now selling that property.
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“For the most part, if someone were looking to redevelop a home in this area into a new structure, they’d likely consider a bungalow, which is one of the more common property types in this area.”
And the buyer would be able to redevelop the property easily as it is already zoned residential.
“Zoning in East York makes development of properties like this attractive,” explained Roberts. “The lot is 20 x 100 feet, meaning a 1,500 square foot house above grade can be built.”
While it may be strange there are no bedrooms or bathrooms, that one parking spot is actually key to this lot.
“The private drive is also valuable, as there’s a waitlist for street parking permits in this area,” said Roberts.
It may be a strange listing, but Roberts expects the demand for the garage to be significant. He also anticipates that it will sell above the listing price.
“Comparable bungalows can sell above $800,000, so it’s likely the listing will get multiple offers,” he said. “The list price was clearly designed to draw attention to this listing.”
That and the fact that it is a garage.