Sale of the Week: The $1.6-million new-build that shows the investment potential of Wallace-Emerson

Sale of the Week: The $1.6-million new-build that shows the investment potential of Wallace-Emerson

(Image: Russ Martin) (Image: Russ Martin)
 

Address: 132 Yarmouth Road
Neighbourhood: Wallace-Emerson
Agent: Alice Kent, Bosley Real Estate Ltd., Brokerage

The Property: Because of its unique facade, this modern Wallace-Emerson home is known as “the ‘S’ house” among neighbours. It has an open-concept main floor with a glass staircase, a master bedroom with a massive six-piece en suite bathroom, and a sizeable backyard with a two-car detached garage.

The History: The home was completed in 2012. The new-build left little for the sellers to improve upon aside from the yards, which they had professionally landscaped.

The Fate: The west end is seeing an influx of builders hoping to cash in on the redevelopment of aging industrial, commercial and residential properties. Modern pads like 132 Yarmouth remain relatively rare, though, which buoys their values.

The Sale: The home was listed for $1,149,000 when we last featured it in 2012. Then it was marked down twice until it finally sold for $1,075,000. The selling agent says the challenge back then was finding other properties to compare it to. West-end gentrification has changed all that. The current sellers used similar new homes cropping up in the Junction and High Park as precedents for their asking price, $1,387,000. They received six offers in six days.

By the Numbers:

• $1,575,000
• 114 per cent list price
• 6 days on the market
• 6 offers
• 4 bathrooms
• 3+1 bedrooms
• 2-vehicle detached garage
• 2 years old, approximately