Sale of the Week: the $1.3-million High Park home that shows catering to the young and wealthy can pay off

Sale of the Week: the $1.3-million High Park home that shows catering to the young and wealthy can pay off

Sale of the Week: 122 Mavety Street
Sale of the Week: 122 Mavety Street

Address: 122 Mavety Street
Neighbourhood: High Park
Agent: Duncan Cameron, Sage Real Estate Limited, Brokerage

The Property: This three-storey home in High Park was fully renovated to attract the hip and the well-heeled. It features a rare second-storey family room with a wet bar. There’s also a built-in wine fridge in the kitchen, plus modern finishes throughout.

The History: It was a calculated risk for the seller to turn the former four-unit rental property into a single-family house. Even so, he went all-in, going as far as applying for a permit to build a bridge between the home’s cedar sundeck and a proposed terrace atop the detached double garage. (It didn’t fly with the city.)

The Fate: The property still has some untapped potential. A waterproofed basement with high ceilings and rough-ins for a kitchen could be converted into a nanny’s suite or apartment, while space on the second storey could be turned into an additional bedroom.

The Sale: The property was primarily marketed toward young professionals, because of its design. After an open house with mimosas on tap and seven days of viewings, the home received three offers, one of which was in-person. The sale closed for $126,000 over asking, setting the benchmark for 25-foot lots in the vicinity.

By the Numbers:

• $1,325,000
• 3,100 square feet above grade, approximately
• 800-square-foot master retreat
• 111 per cent of list price
• 50-square-foot master shower
• 7 days on the market
• 4 washrooms
• 3+2 bedrooms
• 3 offers
• 3 fireplaces
• 2-car detached garage