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Renters get lucky with east Toronto home purchase Add to ...

162 COLEMAN AVE., TORONTO

ASKING PRICE $429,900

SELLING PRICE $435,000

PREVIOUS SELLING PRICE $299,900 (2007)

TAXES $2,105 (2012)

DAYS ON THE MARKET Seven

CO-OP AGENT Anil Khera, Royal LePage West Realty Group Ltd.

The Action: A couple of midtown renters were open to buying a low-rise house in the low $400,000s provided it was close to public transit, so agent Anil Khera suggested 20 options around the Danforth subway line. Having lost two bidding wars in the east end, they were shocked to be the only buyers present on the offer date for this semi-detached house between Main Street and Victoria Park subway stations, but paid over list price as a sign of respect.

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What They Got: Just south of the Dentonia Park Tennis Club, this typical, 1920s residence seamlessly incorporates modern and vintage elements, from hardwood floors in two of three upper bedrooms to laminate floors and pot lights in an open-concept living and dining area.

Practical features were also on the docket of improvements, such as new roofing, windows, fencing and two updated bathrooms, plus plumbing for a third in the basement, in addition to a remodeled kitchen with access to a mudroom, outdoor space, storage and mutual driveway on the 22-by-100-foot lot.

The Agent’s Take: “An important thing for [the buyers] – and a lot of people these days – is transportation, so I wanted to get them something close to the subway,” said Mr. Khera, who also cites the proximity of Shoppers World Danforth where Target is slated to open a store. “There is a fair bit of development in the area, and the area is improving as a result.”

While the buyers were flexible on location, they wouldn’t budge on certain auxiliary spaces. “In the east end, most of the semis have mutual driveway and most of those are unusable. But with this one, it’s 22.25-feet wide lot, so the mutual driveway was wide enough to get a car into the back and still have a shed, yard and deck,” Mr. Khera said.

“They also wanted a finished basement or a finish-able basement. So this has a very finish-able, decent, high and dry basement.”

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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