As it turns out, even a one-bedroom house in Toronto where the bedroom is in the basement can cost you a pretty penny.
A semi-detached house at 11 Jersey Avenue in Toronto’s Palmerston-Little Italy neighbourhood just sold for a whopping $1,262,000. The property hit the market on July 12 with an asking price of $899,000 and sold seven days later for $363,000 over asking.
Although from the outside, the house appears quite small, the inside is pretty stunning once you see it.
The living area and kitchen have tall cathedral ceilings, making the space feel bright and airy.
The bedroom and primary bathroom, however, are located downstairs in the basement. But if sleeping below the ground doesn’t bother you, the bedroom looks pretty spacious and has a small window to let in some light.
The listing also advertises the development potential of the property, so it’s possible the new owners will expand the above-grade living space.
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But the real star of this property (and perhaps what makes it worth the high price tag) is the big backyard.
The house is also extremely close to all of the amenities on College Street, so it’s in a really convenient location.
The property last sold in 2015 for just $684,000 — $578,000 less than its most recent sale. And although the house seems to have had some more modern finishings added to it since then, the current red hot real estate market is likely largely to thank for the price bump.