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Re/Max Hallmark Realty Ltd.

138 Woodmount Ave., Toronto

Asking price: $1,299,900 (Late January, 2021)

Asking price history: $1,199,900 (Early January, 2021)

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Selling price: $1,299,900 (Late January, 2021)

Previous selling price: $980,000 (September, 2017); $393,000 (October, 2008)

Taxes: $4,324 (2021)

Days on the market: one

Listing agent: Mary Jo Vradis, Re/Max Hallmark Realty Ltd.

The action

This two-storey house had a basement rental suite for years, yet the income-generating space was considered a shortcoming for many prospective buyers.

“People didn’t want to rent [the basement], they wanted it for their family because now they needed a separate workspace or a place for family to go,” said agent Mary Jo Vradis.

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The seller restored access between the main and lower levels.

Re/Max Hallmark Realty Ltd.

The feedback from buyers prompted the seller to terminate the listing and restore access between the main and lower levels. When the job was done, it was relisted for $100,000 more and a full price offer materialized in less than 24 hours.

“It didn’t cost much to put the entrance back in, but us spending the time and money to do it increased the value significantly,” Ms. Vradis said.

“It shows how little people are willing to do it themselves under these circumstances. It’s hard to find contractors and suppliers.”

What they got

Just a few blocks away from Michael Garron Hospital and Woodbine subway station, this three-bedroom house has stood on its 20- by 100-foot lot for nearly 100 years.

There are barnboard accent walls and hardwood floors in the open living room.

Re/Max Hallmark Realty Ltd.

Some recent updates include ceramic heated floors in the secondary kitchen and recreation room in the basement.

There are barnboard accent walls and hardwood floors in the open living room and main kitchen, as well as the new laundry room, which also incorporates a folding station and an exit to the yard, mutual driveway and garage.

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The agent’s take

The property is just a few blocks away from Woodbine subway station.

Re/Max Hallmark Realty Ltd.

“It’s a nice, detached home in a great location because the big thing here is how accessible the area is,” said Ms. Vradis.

“My client did some renovations when he moved in… modernizing it and putting in a bathroom on the main floor.”

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