Mediarama Studios
28 Memory Lane, Toronto
Asking price: $1,098,000 (April, 2023)
Previous asking price: $1,398,000 (March, 2023)
Selling price: $1.4-million (April, 2023)
Taxes: $5,835 (2022)
Days on the market: 13
Property days on market: 37
Listing agents: Mary Jo Vradis and Meray Mansour, Rare Real Estate
The action
This three-bedroom house with a built-in garage was constructed in 2001.Mediarama Studios
This semi-detached house was initially listed at $1.398-million, largely based on its rare three-storey design on a laneway south of Queen Street East. The first 10 visitors didn’t agree, so there were no formal offers in March. In April, the seller dropped the price by $300,000 and attracted six offers, with the property ultimately selling for just over the initial asking price.
“It was insane how busy it got as soon as we pulled it and relisted it. It’s like we had 10 times the amount of interest,” said agent Mary Jo Vradis. “We were also lucky because of the location in Leslieville and there was so little for sale.”
What they got
Between 2015 and 2019, the owner added new roofing, a skylight, kitchen appliances and a flagstone patio.Mediarama Studios
This three-bedroom house with a built-in garage was constructed in 2001. Between 2015 and 2019, the owner added new roofing, a skylight, kitchen appliances and a flagstone patio on the 20- by 85-foot lot.
Part of the ground level is set up as a self-contained suite. It has a kitchen, bathroom and entertaining area, plus a rear exit to a hot tub and yard.
On the second floor, the primary kitchen lies between a dining area and a living room with a deck.
The largest bedroom above has access to one of two four-piece bathrooms.
The agent’s take
Mediarama Studios
“It’s in an area that’s changing because there is a lot of development going on, but it’s zoned commercial/residential, so it’s a great income property,” Ms. Vradis said.
“The owner had an Airbnb running out of the lower level and made good money on it.”
This property also has a major asset over newer houses on the lane and wider community. “It had a two-car garage, which is very rare in Leslieville,” Ms. Vradis said.