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Victorian semi in Cabbagetown causes buyer commotion Add to ...

56 METCALFE ST., TORONTO

ASKING PRICE $999,000

SELLING PRICE $1,078,000

PREVIOUS SELLING PRICE $543,000 (1988)

TAXES $5,961 (2014)

DAYS ON THE MARKET 10

LISTING AGENT Michael O’Brien, Bosley Real Estate Ltd.

The Action: There were few homes listed for sale in Cabbagetown late last year, so this semi-detached Victorian caused a commotion when the For Sale sign went up. Most of the interested buyers were investors and three made strong offers.

What They Got: Aside from relatively new roofing and heating systems, the 1980s was the last time major renovations were done inside this over-century-old, brick residence with five apartments and four-car parking off a lane way behind the 21-by-200-foot lot.

The main floor provides entry to two one-bedroom apartments, both with entertaining area, but the rear unit with a stairwell to access a patio and lower-level den.

The second floor is set up with entry into two suites with living rooms, a bedroom and deck. The front unit has an extra loft-style bedroom with a rear deck on the third floor.

The front portion of the basement is occupied by a one-bedroom unit with a side entrance.

The Agent’s Take: “It’s a great location. Metcalfe Street is very popular and thought of as one of the best streets in the neighbourhood,” agent Michael O’Brien says. “The first block of Metcalfe is gorgeous – it looks like a film set, every Victorian house is beautifully renovated– and the second block isn’t quite as consistent, but it’s still very handsome.”

This property is also uncommon for its size and setup. “It’s a great, big Victorian on a big lot for Cabbagetown with 200 feet of depth, which is unheard of, which means it has a lot of parking,” Mr. O’Brien said, who cites most lots about 100 feet-deep and without parking. “[Plus] it’s unusual to have five apartments – more often you see duplexes and triplexes.”

Editor's note: Done Deals contain information gathered from real estate agents, home buyers, home sellers and sale prices that are publicly available from government sources. While we try to publish Done Deals as soon as possible after the transaction has occurred, long closings can cause delays.

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