Laneway potential helps boost condominium deals in Toronto

86 Woburn Ave., Toronto

Sale price: USD 1,295,000 (September 2021)

Sale price: USD 1,750,000 (September 2021)

Previous selling price: $ 985,000 (November 2014); $ 840,000 (January, 2011); $ 635,000 (June 2006); $ 377,500 (March, 2004)

Taxes: 6,379 USD (2021)

Days on the market: Six

List agents: Andre Kutyan and Robert Greenberg, Harvey Kalles Real Estate Ltd.

The plot

The 98-year-old house contains 1,302 square meters of living space plus a 523 square meter basement.The print market

The sellers of this semi-detached house seemed to make the most of its double garage and access to the track by outlining to buyers the possibility of building a secondary suite on the 20 by 120 foot plot. A tree blocking the road was removed and agreements were made with Bell to move a telephone pole that could also be an obstacle. Agent Andre Kutyan had a professional assessment of the site made and determined that a two-story house with a basement could potentially be built there, pending city approvals.

Over 100 buyers visited the house and 14 made purchase offers.

“Every time I have a property on a lane now, it’s a great sales feature, whether you do something now or later,” said Mr. Kutyan.

“Out of 14 bids, three were over $ 1.7 million and only one was under $ 1.6 million. So far most people who came forward had a general idea – within a range of $ 100,000 – of where this should fall. ”

What they got

The central kitchen has quartz countertops, hardwood floors and stainless steel appliances.The print market

The 98-year-old house contains 1,302 square meters of living space plus a 523 square meter basement.

Over the course of two decades, the interior was updated and reconfigured. Highlights include a living room with a gas fireplace and a dining area with access to a large deck. The central kitchen has quartz countertops, hardwood floors and stainless steel appliances.

Agent’s position

A large deck can be accessed from the dining area.The print market

“Normally, these original, detached houses in the area would have three bedrooms and perhaps at best two bathrooms,” said Mr. Kutyan.

“This was completely renovated on the ground floor with a nice open concept kitchen and a powder room, which is rare, and upstairs the main bedroom also has its own ensuite bathroom, so it has four bathrooms.”

A place for the car and a nearby playground were additional assets. “Normally, homes on 20-foot land like this will have reciprocal drives with pad parking or no parking at all, so having two-car parking is a big deal,” said Mr. Kutyan.

“It’s just across the street from Woburn [Avenue] Playground with splash pad, toilet and full playground… and you are a block from Yonge Street. ”

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