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Buyer pays a premium to beat rival for Humewood home Add to ...

319 ARLINGTON AVE., TORONTO

ASKING PRICE $599,000

SELLING PRICE $625,000

TAXES $3,134 (2013)

DAYS ON THE MARKET Six

LISTING AGENT Ira Jelinek, Harvey Kalles Real Estate Ltd.

The Action: Close to all the amenities of a well-established community – such as schools, parks and public transit – this detached house was one of few residences for sale in the neighbourhood.

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One buyer saw an opportunity to make it bigger and better, even if it meant paying a $26,000 premium to beat another interested party.

What They Got: This traditional, brick house dating to the 1950s has a three-bedroom and three-bathroom plan with hardwood floors in the fireside living room and dining area, and tile flooring in the kitchen.

For storage, there is an unfinished basement and garage at the end of the private driveway on the 25-by-100-foot lot.

The Agent’s Take: “[On St. Clair] between Bathurst and Oakwood, there are a lot of groovy places and restaurants, like Ferro, the Rushton and Stockyards, and cute bakeries and stores, so quite a lot of people want to be close to St. Clair and this is just a couple minutes’ walk,” says agent Ira Jelinek.

“And the St. Clair streetcar takes you straight to the subway.”

Like many older homes, this could serve different purposes to many buyers. “There’s a demand from new families, engaged or married couples to find a house between $600,000 and $800,000 that’s livable today,” says Mr. Jelinek.

“Someone can fix it up for $100,000 and have a livable, cute house or someone can make a project with a four-bedroom house.”

Editor's Note: Done Deals contain information gathered from real estate agents, home buyers, home sellers and sale prices that are publicly available from government sources. While we try to publish Done Deals as soon as possible after the transaction has occurred, long closings can cause delays.

 

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