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done deal

Harvey Kalles Real Estate Ltd.

23 Barwick Dr., Toronto

Asking price: $1,295,000 (February, 2021)

Selling price: $1,840,000 (March, 2021)

Previous selling price: $286,000 (May, 1997)

Taxes: $6,578 (2020)

Days on the market: Six

Listing agent: Andre Kutyan, Harvey Kalles Real Estate Ltd.

The action

This detached house is mere metres away from Highway 401, which was a deal breaker for some buyers and seen as an asset by others. About 120 shoppers reserved showings and 19 came back with purchase offers. The back-and-forth eventually came down to two competitors, each with counter-offers of $1.83-million. To break the tie, one buyer raised their price by $5,000. The other doubled that amount.

The post-war home features a remodeled, eat-in kitchen.Harvey Kalles Real Estate Ltd.

“There’s not a lot of inventory in the first quarter of the year and lots of demand,” agent Andre Kutyan said.

“Almost 16 per cent of the people who looked at it made an offer, which is high. It’s more than three times what would happen pre-COVID in terms of serious buyers coming out.”

What they got

This early 1950s home was has undergone numerous renovations over the past 20 years to transform and expand it into a 2,110-square-foot space with a remodeled, eat-in kitchen, three updated bathrooms and a fourth bedroom above the garage.

The 53-foot-by-140-foot was large enough to allow for a three-storey addition.Harvey Kalles Real Estate Ltd.

The formal dining room remains, along with entertaining areas with fireplaces on the main and lower levels.

The agent’s take

“Armour Heights is great value for mid-town because it’s just north of the 401 and in close proximity to all the amenities on Avenue Road, like retail shops and restaurants. And the public schools are very good,” Mr. Kutyan said.

“[Furthermore], you can buy a 50-footer for what it would cost you to buy a 25-footer south of Lawrence [Avenue].”

The 53-foot-by-140-foot lot also allowed for roomier interiors, especially after the three-storey addition.

“These homes would have originally only had three bedrooms, and some have a small fourth bedroom over the garage, but this has a really big bedroom with a dressing area and ensuite bathroom because it was all part of the addition,” Mr. Kuytan said.

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