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done deal

Keller Williams Referred Urban Realty

65 Melrose Ave., Toronto

Asking price: $2,498,000 (October, 2021)

Selling price: $2,900,100 (October, 2021)

Previous selling price: $1,500,000 (June, 2014)

Taxes: $10,008 (2021)

Days on the market: Nine

Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty

The action

The kitchen has been redesigned, complete with built-in seating.Keller Williams Referred Urban Realty

This two-storey house priced below market, a strategy that succeeded in drawing out about 100 visitors for an in-person tour. When the dust settled, the best of six offers, $402,100 over asking, came out on top.

“We priced it slightly lower just to get more eyes on it,” agent Andrew Ipekian said.

“It’s a highly desirable neighbourhood, so bidding wars are normal. But to get about $400,000 over the asking price is not normal.”

What they got

A living room addition has been given a fireplace.Keller Williams Referred Urban Realty

Previous owners had transformed this former three-bedroom house into a four-bedroom one with more space and more luxuries. The primary bedroom is now equipped with a gas fireplace, vaulted ceilings and an ensuite bathroom with heated floors.

A living room addition has also been given a fireplace. Sliding doors open to a south-facing deck with glass railings overlooking a new in-ground pool, hot tub, shower and cabana with a wet bar and rock-climbing wall.

The kitchen has been redesigned, complete with built-in seating. The front room remains for formal dining.

The lower level has a guest bedroom and recreation room, plus one of the home’s four bathrooms.

The 25-foot-by-150-foot lot has space to park one car.

The agent’s take

The backyard includes a new in-ground pool, hot tub, shower and cabana with a wet bar and rock-climbing wall.Keller Williams Referred Urban Realty

“It had an extension, so the main floor was beautiful with an oversized kitchen,” Mr. Ipekian said.

“It’s a really nice home for entertaining, and it had a sound system all run off your phone.”

The lot was also 30 feet deeper than most, leaving ample room for backyard recreation. “Very rarely does a pool like that exist, because a lot of lots are not that deep,” Mr. Ipekian said.

“[Plus], it had a hot water heater for the shower, so you wouldn’t have to take cold showers.

“It was like a little resort back there and it’s basically one block from Yonge Street.”

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