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Eight offers for High Park house with income potential Add to ...

29 GLENLAKE AVE., TORONTO

ASKING PRICE $899,000

SELLING PRICE $1,150,000

TAXES $4,508 (2013)

DAYS ON THE MARKET Nine

LISTING AGENTS Carmen Krasevac and Andrea Morrison, Royal LePage Real Estate Services Ltd.

The Action: The winter-ravaged grounds surrounding this detached, 2 1/2-storey house failed to dissuade nearly 50 buyers from wanting to enter, especially with so little for sale in High Park in the middle of March. The best proposal from eight visitors who ponied up a bid was $251,000 more than the $899,000 list price.

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What They Got: This century-old house encompasses three suites with a recently updated furnace and back deck, as well as new broadloom in the one-bedroom basement suite and custom kitchens on the main and second floors with granite counters and stainless steel appliances, including gas stoves.

Hardwood floors and crown mouldings lend a classic look to the upper suites, including a main-floor owner's unit with one bedroom and a fireside living room.

The upper unit is the largest – leased for $2,300 monthly – has open living and dining areas, exposed brick walls, a wood-burning fireplace and a deck on the second floor, as well as a sky-lit, third-floor bedroom.

For parking, there is a private driveway and garage on the 23-by-92-foot lot.

The Agent's Take: “It's a pretty in-demand area and the lack of inventory helped us out,” agent Carmen Krasevac said. “Properties that have the rental income are very high in demand and this one in particular because it's renovated so well, so you can get a good tenant willing to pay good money to be in there.”

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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