A small one-bedroom house in Toronto that’s in need of “extensive renovations” was just picked up off the market for nearly $700,000.
Located at 19 Lambton Avenue in Toronto’s Mount Dennis neighbourhood, the compact house hit the market back in October with an asking price of $699,900. After a month and a half on the market, it sold for $675,000 — $24,900 under asking.
According to the listing, the small red-bricked house “needs extensive renovations,” and the property is “best suited for a new build,” meaning it’s likely that the new owners intend to tear down the existing building altogether and construct a new home.
The one-bedroom home currently on the Toronto property has just three main rooms on the first floor — a kitchen, living room, and bedroom — all measuring just over 100 square feet each. According to the listing, there is an additional kitchen and two bedrooms in the basement, measuring 65-75 square feet each. The house also has two bathrooms, although the listing does not specify where or what size.
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The lot that the home sits on has development potential. Although it’s rather narrow, at just 25 feet wide, it stretches back 110 feet. With Toronto being no stranger to slim, modern housing making the most of a parcel’s space, a small, but long, house would likely go up here. Similar new builds can be seen on surrounding lots.
The property is also in a promising location; with the future Eglinton Crosstown LRT’s new Mount Dennis Station nearby, it will be great for commuters.
With so much potential, it’ll be interesting to see what eventually goes up on this property.