Sale of the Week: the $910,000 Little Portugal townhouse that shows the appeal of a laneway location
Address: 25 Skey Lane
Neighbourhood: Little Portugal
Agent: Jose Nieves, Sutton Group Quantum Realty Inc., Brokerage
The Property: This rare laneway property is one of three townhouse units on Skey Lane. The four-level modern home has a built-in garage, an open-concept dining area and three bedrooms.
The History: The property was renovated recently. It and the two other townhomes were originally built in 1996 by a developer that specializes in small-scale laneway projects.
The Fate: Getting permission to build new homes in trendy laneway locations is much tougher than it was a decade ago, which tends to boost the value of the handful of back-alley houses that already exist. Even so, a few new homes are being built just down the ‘way.
The Sale: The home’s laneway status proved to be both the listing’s main attraction and its biggest challenge. Some viewers loved the unusual location’s private feel, while others hated the idea of living among other peoples’ garages. The laneway’s uncommonly tight-knit community sweetened the deal for the eventual buyers, according to the agent. The property received four offers over its 36 days on the market.
By the Numbers:
• $925,000 • 1,600 square feet, approximately • 98 per cent of list price • 36 days on the market • 18 years old • 4 offers • 4 levels • 3 bedrooms • 2 washrooms • 1-car built-in garage
