4 ELSTREE RD., TORONTO
ASKING PRICE $835,000
SELLING PRICE $1,007,012
PREVIOUS SELLING PRICE $28,000 (1963)
TAXES $5,500 (2012)
DAYS ON THE MARKET Seven
LISTING AGENT Carmel Kidd, Sutton Group Realty Systems Inc.
The Action: In an established Humber Valley community home to James Gardens, prestigious golf clubs and million-dollar homes, this two-storey residence was renovated and staged to draw attention away from some drawbacks, such as oil heating and a small yard.
Compounded by a shortage of comparable properties, its improved appearance captivated at least 100 visitors, including a handful that considered making a bid. However, only three buyers committed to it upon hearing there was competition.
What They Got: On a 55- by 125-foot corner lot, this roughly 50-year-old house had its roof and furnace replaced in 2005, but more recently, the two full bathrooms were remodelled and new light fixtures, kitchen appliances, hardwood floors and carpeting were installed.
The entertaining area consists of a living room with a wood burning fireplace, an adjacent dining space and a family room with a tandem office area, plus there is a library, fireside recreation area and play room in the basement, which has a separate side entrance.
Three bedrooms with original strip hardwood floors offer privacy upstairs.
For parking, there is a private driveway and double garage.
The Agent’s Take: “The thing that sold it was the location,” agent Carmel Kidd said. “It’s a very quiet street. No one would drive – there unless they lived there – since it’s not a through street … and it’s close to all the great schools in the Kingway.”
The property’s modern layout in an older neighbourhood was also vital to buyers.
“In a lot of the older homes, people have to buy them and break down walls, but you don’t have to do that here,” Ms. Kidd said. “It was [built in]the era at the start of the open concept plan, so when you walked in, you had a nice foyer and the living and dining room in an L shape.”