Sale of the Week: the $1.3-million reno that proves buying into Parkdale isn’t cheap
The Property: This extensively upgraded Parkdale semi has four bedrooms—one more than you’d normally expect from a home that’s only 17 feet wide.
The History: Paula Velez, who has made appearances on HGTV and CBC, led a to-the-studs renovation. Everything is new, from the hickory floors and solid-wood kitchen cabinets to the mechanical systems. Practically all that remains of the original 1890s Victorian is the exposed brick wall by the staircase.
The Fate: Parkdale has shed its gritty image, making it increasingly popular among professionals who can no longer afford High Park or Roncesvalles. The demand has caused entry-level home prices in the neighbourhood to soar over the past few years—a powerful lure for renovators and builders hoping to turn a profit.
The Sale: Because there were so few comparable homes nearby, the sellers found it difficult to set a price. They originally listed 37 Fuller at $1,249,900 and held back offers for a week. This resulted in a handful of verbal bids for less than they wanted, so they re-listed for $1,335,000 to create room for negotiation. The eventual buyers, a family with children, registered an offer two days later. The home sold for $1,295,000, setting an area price record for a semi.
By the Numbers:
• 97 per cent list price
• 125 years old
• 11 days on the market
• 4 bedrooms
• 4 bathrooms
• 1 offer