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Done Deal, 25 Naismith Ave., Toronto
Done Deal, 25 Naismith Ave., Toronto

Five bidders battle for Cabbagetown home Add to ...

25 NASMITH AVE., TORONTO

ASKING PRICE $589,000

SELLING PRICE $660,000

PREVIOUS SELLING PRICE $342,000 (2003); $264,000 (2001)

TAXES $3,376 (2011)

DAYS ON THE MARKET seven

LISTING AGENT Carly Gaston, HomeLife/Realty One Ltd.

The Action: Agent Carly Gaston was adamant about getting a week of exposure for this semi-detached residence on a quiet street just a few blocks from Riverdale Park in Cabbagetown.

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So a pre-emptive offer was rejected to accommodate about 15 buyers with showings and more than 100 open house visitors. On the day bids could be presented, the best out of five proposals came from a couple previously defeated in competition for other East Toronto properties.

What They Got: In a neighbourhood with a high concentration of historic Victorians, this Arts and Crafts-style house was built in the 1920s on the former site of the Toronto General Hospital.

Within the first three years of ownership, the sellers installed new roofing, windows and skylights, updated the heating and cooling systems, and remodelled the two bathrooms and an eat-in kitchen with access to a lower level office and recreation room, as well as a back deck and secluded patio with gardens, a pond and cabana.

Custom shelving was built around the gas fireplace in the living room, which also features hardwood floors that flow into the adjacent dining area and three bedrooms upstairs.

For parking, there is a spot on the mutual driveway.

The Agent’s Take: “Cabbagetown is such a prestigious area with higher prices generally than what we were listing at and sold for,” says agent Carly Gaston, who expects values will only increase with the revitalization of Regent Park nearby.

“It’s a great street that even has its own website and Doors Open Nasmith [event]”

The property’s mass appeal also lies in its recent makeover. “It’s open concept, but the wall to the kitchen was left up, which is good for a mix of formal and open spaces,” says Ms. Gaston.

“It had a good balance between the modern conveniences of the quartz counters, glass backsplashes and stainless steel appliances, and then you had the original floors, which were in good condition, and the high baseboards.”

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