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Done Deal, 62 Madison Ave., Toronto (Geoffrey Parkin/GPPHOTO.CA)
Done Deal, 62 Madison Ave., Toronto (Geoffrey Parkin/GPPHOTO.CA)

Mid-Toronto fourplex price trimmed by $155,000 Add to ...

62 MADISON AVE., TORONTO

ASKING PRICE $2,045,000

SELLING PRICE $1,890,000

TAXES $10,287 (2011)

DAYS ON THE MARKET Seven

LISTING AGENT Nutan Brown, Royal LePage West Realty Group Ltd.

The Action: Half the units in this detached fourplex were vacant, so more than 40 scheduled showings were orchestrated. To entice a wider pool of buyers, the price was reduced to around $2-million, which brought one shopper to the negotiation table.

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What They Got: During the past decade, the previous owner not only restored the brick façade of this over-century-old Victorian, but also replaced the plumbing and wiring, and remodelled the four-piece bathrooms and kitchens in each unit.The main-floor apartment contains two bedrooms and wood-burning fireplaces in the living and dining rooms, while the second-floor owner’s suite features two bedrooms, including one with a two-piece bathroom, a den and a combined principal room.

The third-floor unit has a sky-lit living room with a wood stove and one bedroom with a walkout to a deck. The one-bedroom basement apartment has patio access from the living area. A private driveway and detached garage complete the 34- by 127-foot lot.

The Agent’s Take:“The biggest selling feature for this was the condition of the home itself. It was very lovingly looked after,” agent Nutan Brown said. “There were a lot of beautiful features … and every suite has some kind of a fireplace.

“Furthermore, the property had space for tenants to park their cars and take a short, scenic stroll to Bloor Street.

“Many of them have shared mutual drives, so having a private driveway is a huge premium,” Ms. Brown said. “In the Annex there are many beautiful homes and many beautiful streets, but Madison is pretty coveted and thought of as one of the most desirable streets in the area.”

 

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