Gutted Toronto house sells in one day for $626,000 over asking

Oct 29 2021, 8:35 pm

After a serious renovation, a house in Toronto’s Palmerston-Little Italy neighbourhood was snapped up off the market in just one day for $626,000 over the asking price.

The four-bedroom, four-bathroom home, located at 423 Roxton Road, hit the market on October 25 with an asking price of $2,499,000. It sold the next day for $3,125,000.

toronto house sold over asking

Homelife/Cimerman Real Estate Limited

As jaw-dropping as the over-asking price is, it’s even more shocking when compared to the $1,468,900 the sellers bought it for in 2018. The home they bought and the home they sold, however, were very different.

Photos from the 2018 listing show a dated house that’s in need of some serious upgrades, and according to the newer listing, the buyers took on that challenge, bringing the house down to the studs in 2019 and doing a total renovation.

Homelife/Cimerman Real Estate Limited

Homelife/Cimerman Real Estate Limited

What’s there now is a very modern, beautifully designed house with plenty of high-end finishings. There’s a bright, open kitchen with a breakfast bar, a grand living room, roomy bedrooms, and even a rooftop deck. But the most impressive room of all just might be the primary bathroom with its massive curb-less shower, double sinks, large bathtub, and heated floors.

toronto house sold over asking

Homelife/Cimerman Real Estate Limited

toronto house sold over asking

Homelife/Cimerman Real Estate Limited

The basement was also renovated and turned into a two-bedroom apartment that, according to the listing, is “currently generating great income.”

Homelife/Cimerman Real Estate Limited

Out in the back, there’s a two-car garage, which is exciting enough on its own since parking in Toronto is a hot commodity. The listing also says that it has the potential to be turned into a laneway house, which could mean even more useable square footage, or if they choose to rent it out, more income.

toronto house sold over asking

Homelife/Cimerman Real Estate Limited

Although spending over $3.1 million to live in Toronto may not be everyone’s dream, this home certainly wouldn’t be a bad place to do it.

Laura HanrahanLaura Hanrahan

+ Real Estate
+ Toronto Homes
+ Urbanized
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