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done deal

William Kwok

429 Montrose Ave., Toronto

Asking price: $1,398,000 (September, 2021)

Selling price: $1,452,000 (September, 2021)

Taxes: $5,346 (2021)

Days on the market: Seven

Listing agents: Belinda Lelli and Suzanne Stephens, Royal LePage Real Estate Services Ltd.

The action

The 816-square-foot basement offers a secondary kitchen, and open entertaining and dining areas, plus a bedroom, bathroom and rear exit to the yard.William Kwok

On the western perimeter of Bickford Park, this semi-detached house hosted 75 visitors during an open house event in the fall of 2021. By the time a full week of tours were completed, three buyers were lined up to fight for the property. One party raised their initial proposal to $1.452-million, toppling the other two bids.

“The average house on that street – and within three or four streets – was priced at $1,198,000,” said agent Belinda Lelli.

“We priced it at the higher end in order to field serious people, and that’s why you don’t see us selling 130-per-cent over asking, but we still did really well.”

Whet they got

Income could be generated within the two-storey house, which has multiple exits.William Kwok

This house has 1,399 square feet of living space laid out with six bedrooms and two bathrooms, with a living room and kitchen on the second floor.

The 816-square-foot basement offers a secondary kitchen, and open entertaining and dining areas, plus a bedroom, bathroom and rear exit to the yard. A garage faces the laneway behind the 17-foot-by-120-foot lot.

The agent’s take

The house is laid out with six bedrooms and two bathrooms, with a living room and kitchen on the second floor.William Kwok

“We qualified for laneway housing, which attracted many buyers looking to purchase an income-producing property in the heart of Toronto, and steps to the University of Toronto, parks, transit, Christie Pits, restaurants and more,” Ms. Lelli said.

“It gives someone the opportunity to convert the garage into a two-bedroom condo.”

Income could also be generated within the two-storey house, which has multiple exits. “It’s really conducive as a triplex, but is zoned and taxed as a duplex,” Ms. Lelli said.

“The purchasers would have to outfit the property with a kitchen on the main floor and do some renovating, but they’re starting with a spotless house with original strip flooring and a nice garden.”

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