Sale of the Week: the $930,000 semi that hints at a pricey fate for west-end real estate

By Nicholas Mizera | September 29, 2014

By Nicholas Mizera | 09/29/2014

toronto-sale-of-the-week-261-pacific-avenue-intro

Address: 261 Pacific Avenue
Neighbourhood: High Park
Agent: Wendy Hammond Page and Jennifer Percival, Sutton Group Old Mill Realty Inc., Brokerage

The Property: This three-bedroom Victorian semi is within walking distance of the Junction’s shops, restaurants and bars. It features loft-like details throughout, including exposed-brick walls, hardwood floors and high ceilings. A third-floor master retreat sports its own walk-in closet, four-piece en suite washroom and skylights.

The History: The home was built in 1909, the same year the Junction was annexed into the city of Toronto. The previous sellers renovated it by upgrading the kitchen, opening up the third floor and adding a family room with a walkout to the backyard patio. The current sellers outgrew it, and decided to move into a detached home with more space.

The Fate: Ever since its alcohol ban was lifted in 1998, the Junction has continued to grow in popularity. Semi-detached homes in the vicinity are destined to hit the million-dollar mark in the next few years, a trend that started in the Annex and is making its way west.

The Sale: Taking into account the home’s deceptively narrow, 15.54-foot frontage, it was strategically priced at $799,000 to encourage suitors to view it in person and discover the large, 100-feet-deep lot. The home received six offers, the highest of which was negotiated up to a closing price of $930,000.

By the Numbers:

• $930,000
• 1,797 square feet above grade
• 523-square-foot basement
• 116 per cent of list price
• 105 years old
• 7 days on the market
• 6 offers
• 3 bedrooms
• 2 washrooms
• 1 third-level master retreat
• 1 parking spot in the laneway out back