Investors cut under-ask agreement for Annex semi

Sotheby’s International Realty Canada

138A Madison Ave., Toronto

Sale price: $ 2,289,900 (September 2021), $ 2,199,000, $ 2,059,000 (October 2021)

Previous offer price: $ 2,289,000 (July 2021)

Sale price: $ 2,044,000 (October 2021)

Taxes: USD 8,548 (2021)

Days on the market: 47

List agents: Penny Brown, Robert Nelson and Nigel Denham, Sotheby’s International Realty Canada

The plot

The house was built in the 1960s and has a fireplace in the ground floor living room.Sotheby’s International Realty Canada

This semi-detached house first came on the market in July, but over two weeks it only managed to elicit a few hesitant verbal offers. It was re-listed in September and the offer price was reduced twice before a deal was concluded just before Halloween.

“The summer of 2020 was red-hot everywhere, but this year, when people felt good about being vaccinated, people started traveling so the market calmed down,” said Agent Robert Nelson.

“It is a stunning home built in the early 60s that is very urban with two [bedrooms] plus one, which was a bit of a challenge for some people who, after seeing it, decided they needed a third bedroom.

“But in the end, the property was sold to a few investors.”

What they got

The dining kitchen has stainless steel appliances and double doors to a deck and patio.Sotheby’s International Realty Canada

This house has over 1,440 square feet of living space with an open den between two bedrooms on the second floor. A guest bedroom and another full bathroom are on the lower level, which also has access to the garage.

The living room on the ground floor has a fireplace. The dining kitchen has stainless steel appliances and double doors to a deck and patio on the 20 x 128 foot lot.

Agent’s position

The semi-detached house has over 1,440 square meters of living space.Sotheby’s International Realty Canada

“The annex is extremely diverse in its housing stock,” said Mr. Nelson. “You can have multi-unit homes, low-rise apartment buildings, condominiums and single-family homes.”

“One of the biggest advantages this house had was a garage, and you could easily park three cars in the driveway. And for the annex, at that price point, it’s unheard of. “

The ability to walk to amenities was also a big plus. “There are access to two subway lines within a minute’s walk,” said Mr. Nelson.

The house is located on a 20 by 128 foot plot.Sotheby’s International Realty Canada

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