702 Rideau Rd. SW, Calgary
Asking price: $1,875,000 (June, 2021)
Previous asking prices: $2.5-million (March, 2007); $2.7-million (October, 2006); $2.95-million (June, 2006) *under previous agents
Selling price: $1,628,000 (August, 2021)
Taxes: $10,682 (2020)
Days on the market: 82
Listing agent: Terry Hesp, Royal LePage Mission Real Estate.; Buyers’ agent: Kamil Lalji, CIR Realty
Over the past year, agent Kamil Lalji escorted a couple through 30 family-friendly homes but initially excluded this three-bedroom house backing onto Elbow Island Park and priced at $1,875,000 as being beyond their budget. When last put up for sale 15 years ago, the asking price had reached $2.95-million.
A few months later, Mr. Lalji circled back after the asking price had been slashed to $1.875-million. They decided to make an offer, but inadvertently entered a bidding war.
“[The listing agent] said someone submitted else an offer as well. I was suspicious because, what are the chances?” Mr. Lalji said.
“We managed to get it at a relatively good price compared to what it was listed for.”
What they got
The 93-year-old house has 2,854 square feet of living space, including an open family room off the kitchen and a loft on the third floor.
Formal spaces include a living room with a gas fireplace, and a dining area with access to a wide deck overlooking the sprawling, 65-foot-by-115-foot grounds. There is also a private office
One bedroom contains a walk-in closet and five-piece ensuite bathroom nearly the size of the other bedrooms.
The lower level has another bedroom with its own kitchen and living room, plus a wine cellar and access to the garage.
The agent’s take
“What’s unique is that not only is it a ravine lot, but it backs onto a forested island on the river, and you can access the island by a bridge,” Mr. Lalji said.
“This is one of the most premier lots and locations that I’ve ever sold, and objectively one of the best lots in Calgary.”
The house itself is about half the size of its neighbours but was kept up to date. “It’s almost 100 years old, but it was renovated numerous times over the years,” Mr. Lalji said.
“This house is flanked by two massive houses – one is roughly $5-million and the other $3.5-million.”
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