986 ST CLAIR AVE. W., TORONTO
ASKING PRICE $549,000
SELLING PRICE $500,000
TAXES $9,700 (2010)
DAYS ON THE MARKET 172
LISTING AGENT Dina Maglietta and David Knox, Summerhill Prestige Real Estate Ltd.
The Action: Like many commercial buildings, this two-storey property spent a few months on the market before one of the 15 visitors stepped up with an offer.
What They Got: For the past three decades, this more than 80-year-old, brick building was occupied by the same owners who operated an optometrist office on the main floor and resided in a two-bedroom apartment with a kitchen, living and dining rooms above.
Since 2006, the roof was replaced, the stucco exterior redone and new plumbing, wiring and heating systems were installed, plus the interiors were redecorated.
Conveniences include two bathrooms, an unfinished basement and parking at the back of the 15-by-105-foot property, which is steps from trendy shops, cafes and public transit.
The Agent’s Take: “The biggest selling feature is the investment potential and the location, and the fact it lent itself to … somebody who may utilize the main floor for their business and live and occupy the second floor,” says agent Dina Maglietta. “It also had walkout potential from the basement.”