Some people are willing to pay exorbitant prices for Toronto real estate, but how about for a literal patch of dirt? Because one just hit the market with an asking price of nearly $1 million.
The property, located at 172 South Kingsway, is currently listed for $985,000. For that price, the buyer will get piece of land that has quite literally nothing but potential.
The vacant lot is being marketed as a building opportunity to construct either a dream home or an investment opportunity. The property does have a fairly large frontage for the area — 50 feet — and is backed by a ravine that’s lined with trees.
And to the south of the available property, there’s a 600-foot parkette, meaning direct access to green space.
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The listing boasts the property’s proximity to highly-ranked schools, the TTC, and the waterfront — it’s just a few minutes from both the Humber River and lakeshore. It’s also a short walk to Bloor Street West and all that the main road has to offer.
According to the listing, newly built homes along South Kingsway that are on even smaller lots with just 36-foot frontages have sold upwards of $2.6 million. So for a motivated builder, this dirt patch could end up being a pretty lucrative Toronto property.