You can buy a one-bedroom home in Toronto’s east end. The problem is, it costs almost $700,000.
Located at 167 Sammon Avenue, right by Pape Village and The Danforth, it’s a quick walk to Donlands subway station.
The property offers one bedroom with two bathrooms and a spacious backyard — listed for $699,000.
It also sits on a 20×123 foot lot and is set back from the street.
While the property needs some renovation, it offers a long-term investment opportunity for a first-time buyer looking to get into the market.
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“This property offers a great long term investment opportunity for a first-time buyer looking to get into the market and build some equity, or for an investor interested in adding to their portfolio,” Evelyn Anders, Zoocasa’s director of business development and a real estate agent in Toronto, said in a statement.
“While the home may sell above list price, the buyer is still likely to secure a detached, freehold property that is walking distance to parks, the Danforth, and close to the DVP for the price of a condo.”
Anders also suggests potential buyers budget for a home inspection prior to the set offer date to get “a good understanding of the state of the property” and ultimately their investment.
“Keep in mind that parking is not included, however, given the home’s proximity to transit, shopping, restaurants, and essentials on the Danforth, that may not be a deal breaker for many buyers or residents who prefer to spend most of their time in their local neighbourhood,” Anders notes.
While the home is on the higher end of the price range, there could be meaningful investment with location and property once renovated.
So maybe give it a look if you want to get into the Toronto housing market.