One Toronto homeowner just reaped the benefits of a red hot market and sold their house for $1.25 million more than they paid for it in 2008.
Located at 184 Garden Avenue in Toronto’s Roncesvalles neighbourhood, the home hit the market this summer with an asking price of $1,749,000. It sold in just one week for $1,851,000 — $102,000 over asking.
With three bedrooms, three bathrooms, and a finished basement with its own entrance, it’s not hard to see why this house fetched such a high price. Not to mention the fact that it’s just a short walk from High Park and an easy commute to downtown.
The home last sold in 2008 for $559,900, which means the sellers made just over $1,250,000 on their investment.
It wasn’t all profits, though. According to the listing, the home has undergone some recent updates, including a brand new structure at the back that can be used as a garage, workshop, or studio.
The inside of the mid-century home appears to have been recently renovated, with an open-concept main floor and spacious kitchen. The bedrooms look spacious, and the basement has its own living area with a fireplace and an extra bedroom.
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The backyard would definitely be another big draw, with a wooden deck perfect for dining when the weather’s warm and a paved patio below for lounging.
However you feel about the current state of Toronto real estate, one thing’s for sure: it’s definitely still a seller’s market.