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195 ST. CLARENS AVE., TORONTO

ASKING PRICE $875,000

SELLING PRICE $845,000

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TAXES $3,400 (2012)

DAYS ON THE MARKET One

LISTING AGENT Lucais Shepherd, Re/Max West Realty Inc.

The Action: This three-storey, semi-detached house in Brockton Village was once listed close to $900,000. But the sellers reassigned the listing to another agent – Lucais Shepherd – who reduced the price to $875,000 and contacted up to a dozen clients and realtors to find the right buyer.

What They Got: A two-car garage off a laneway occupies a small portion of a 18-by-127-foot lot

that is largely filled out with a 1890s Victorian restored of its original brick façade, limestone lintels and sills, but also remodeled with updated hardwood floors, windows and mechanical systems.

The interior is divided into four units, including one-bedroom apartments on the lower and third levels, while a second-floor suite has nine-foot ceilings, two bedrooms, a dining room and a front balcony.

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The largest unit spans two levels with a main-floor living room that has an electric fireplace, open dining area and three bedrooms, including one in the basement, plus two bathrooms rather than one like the other units.

The Agent's Take: "Income and rental properties downtown are common, but for a four-unit property to make over $70,000 [annually] is really good," says agent Lucais Shepherd. "It's over eight-per-cent return, so that's exceptional." Looking past the numbers, the place provided traditional comforts against an urban backdrop. "195 St. Clarens is a charming Victorian house steps to College Street," Mr. Shepherd adds. "The third level had clear views of downtown Toronto, including the CN Tower, and great possible rooftop terrace over the flat roof off the rear of the house."

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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