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done deal

Sotheby’s International Realty Canada

138A Madison Ave., Toronto

Asking price: $2,289,900 (September, 2021), $2,199,000, $2,059,000 (October, 2021)

Previous asking price: $2,289,000 (July, 2021)

Selling price: $2,044,000 (October, 2021)

Taxes: $8,548 (2021)

Days on the market: 47

Listing agents: Penny Brown, Robert Nelson and Nigel Denham, Sotheby’s International Realty Canada

The action

The house was built in the 1960s and features a fireplace in the main floor living room.Sotheby’s International Realty Canada

This semi-detached house initially went on the market in July, but over two weeks it only managed to elicit a few hesitant verbal offers. It was relisted in September and the asking price reduced twice before a deal was cut just before Halloween.

“The summer of 2020 was red hot everywhere, but this year as people got comfortable being vaccinated, people started to travel, so the market calmed down,” said agent Robert Nelson.

“It’s a great home built in the early ′60s that’s very urban with two [bedrooms] plus one, which was a bit of a challenge for some people who decided after viewing it that they needed a third bedroom.

“But in the end, the property sold to a pair of investors.”

What they got

The eat-in kitchen has stainless steel appliances and double doors to a deck and patio.Sotheby’s International Realty Canada

This house has over 1,440 square feet of living space, with an open den set between two bedrooms on the second floor. A guest bedroom and second full bathroom are in the lower level, which also has access into the garage.

The main floor living room has a fireplace. The eat-in kitchen has stainless steel appliances and double doors to a deck and patio on the 20-by-128-foot lot.

The agent’s take

The semi-detached house has over 1,440 square feet of living space.Sotheby’s International Realty Canada

“The Annex is extremely diverse in its housing stock,” said Mr. Nelson. “You can have multi-unit dwellings, low-rise apartment buildings, condos, and single-detached homes.”

“One of the biggest bonuses this house had was a garage, and you could easily park three cars in the driveway. And for the Annex, at that price point, that’s unheard of.”

The ability to walk to amenities was also a big plus. “There’s access to two subway lines within a minute’s walk,” Mr. Nelson said.

The house sits on a 20-by-128-foot lot.Sotheby’s International Realty Canada

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