78 Tecumseth St., No. 1607, Toronto
Asking price: $425,000 (September, 2020)
Selling price: $470,000 (September,2020)
Previous selling price: $362,000 (2017); $256,097 (2013)
Taxes: $1,793 (2020)
Days on the market: Eight
Listing agent: Delila Law, Keller Williams Referred Realty
Rental rates during the pandemic are much lower than those achieved a few years ago when this bachelor pad was last purchased, prompting the owner to move to sell, even though there was a large pool of properties already listed for sale nearby. However, the unit was stylishly staged and priced low at $425,000, which persuaded three buyers to vie for ownership.
“With COVID, everyone is spending more time at home, yet we were able to offload a unit we joked was an ‘unsellable’ unit,” said agent Delila Law.
“We were fortunate because it had a parking spot, and the way it presented made a difference.”
What they got
This roughly 350-square-foot unit has an open, modern design with nine-foot ceilings, full height windows and sliding balcony doors, as well as a linear kitchen with granite and stainless steel appointments.
A lacquered, Italian-made couch hides a built-in bed in the entertaining area, and stacked laundry machines are tucked inside the bathroom.
Monthly fees of $210 pay for heating, concierge and use of an on-site gym and rooftop deck.
The agent’s take
“There were no investors looking at this. It was mostly first-time home buyers,” Ms. Law said.
“Although it has a small footprint, the space was laid out very well, and it had a Murphy bed that converted to a couch, so it made that one open space a multi-use space.”
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.