A tiny home in Toronto just sold for over $800,000 above asking price

Aug 20 2020, 1:02 pm

A tiny home located in Toronto’s west end just sold for over $800,000 of its original asking price.

The home was on the market for $999,999 and sold for $1,808,000, Zoocasa confirmed to Daily Hive.

And the home is tiny indeed at just 20.16 feet x 129 feet.

The “rare detached bungalow,” located near Toronto’s Trinity Bellwoods Park, at 300 Euclid Avenue, has two bedrooms and one bathroom.

The home sold for much more mainly due to the location and the lot size.

Zoocasa

According to Zoocasa’s CEO and Record Broker, Lauren Haw, two other detached home listings nearby sold over $1.8 million this year at 225 Palmerston Avenue and 72 Montrose Avenue, which can provide some context on the sale price.

Zoocasa

“In this case at 300 Euclid Avenue, the large 20 x 129 ft lot is likely what is most interesting to the buyers, versus the current property that is on it,” Haw said.

“If the purchaser plans to build a brand new house, and possibly hopes for laneway house approval, building from scratch is often less expensive than a back-to-studs renovation. With that in mind, this lot is in some ways superior for that purpose when compared to the other lots for the nearby sales.”

Zoocasa

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