Sale of the Week: The $810,000 Annex home that proves size doesn’t necessarily matter

Sale of the Week: The $810,000 Annex home that proves size doesn’t necessarily matter

Sale of the Week: The $810,000 Annex home that proves size doesn’t necessarily matter

Listed At
$769,000
Sold For
$810,000

Address: 5 Olive Avenue

Neighbourhood: The Annex

Agent: Sarah Garner, Royal LePage Supreme Realty, Brokerage


The property: One half of a tiny Annex farmhouse that dates to the late 19th century. The interior isn’t spacious, but it has graceful touches like cathedral ceilings and restored pine floors.


The history: The original structure was built in 1888, and it seems to have been divided into two semi-detached homes at some point afterward. The sellers bought the eastern half of the property in 1998.


The fate: The buyers, a young couple looking to settle down, were drawn to the home partly because of the list price, which was a little lower than average as a result of the property’s modest size. They’re planning on updating the kitchen and bathroom.


The sale: The house was on the market for a week. Visitors to its three open houses liked its quaintness and its pine floors. But the cramped interior may not have agreed with everyone: there was only one offer, for $41,000 over asking.


By the numbers:

  • $810,000
  • $3,838.48 in property taxes (2015)
  • 1,499 square feet
  • 15-by-103-foot lot
  • 7 days on the market
  • 3 bedrooms
  • 1 bathroom

toronto-house-sold-5-olive-avenue-2
The house has a covered porch that acts as a mudroom.

toronto-house-sold-5-olive-avenue-3
The pine floors in the living and dining area are whitewashed.

toronto-house-sold-5-olive-avenue-4
The dining area has a door to the backyard.

toronto-house-sold-5-olive-avenue-5
The kitchen has quartz countertops.

toronto-house-sold-5-olive-avenue-6
There are two bedrooms on the second floor. This bathroom is the only one in the house.

toronto-house-sold-5-olive-avenue-7
Here’s one of the second-floor bedrooms.

toronto-house-sold-5-olive-avenue-8
The master bedroom is on the small side.

toronto-house-sold-5-olive-avenue-9
There’s a third bedroom on the third floor. The shape of the room is a little odd, but it adds precious square footage.

toronto-house-sold-5-olive-avenue-10
And here’s the backyard.