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
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
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
“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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