Sale of the Week: the home that shows how far $1.1 million goes in High Park (hint: not very)

Sale of the Week: the home that shows how far $1.1 million goes in High Park (hint: not very)


Address: 371 Parkside Drive
Neighbourhood: High Park
Agent: Petra and Ruslana Wrzesnewskyj, Re/Max Professionals Inc., Brokerage

The Property: This three-storey, six-bedroom home across the street from High Park requires work. The bones of the structure are in good condition, and some of the original fixtures are worth saving, like the leaded and stained-glass windows, high baseboards and fireplaces. The rest, though, is in poor shape. The property was sold as-is.

The History: 371 Parkside was originally built around the turn of the century. Its previous owner, a 103-year-old man, had lived most of his life in the home, and apparently saw no reason to remodel.

The Fate: Although the property was marketed to contractors and builders, ultimately it was a family that bought the place. They’ll need to renovate before they can move in. Fortunately, they have a couple things working in their favour: one, the home’s ample size eliminates the need for a pricey expansion, and two, the lack of prior renovations means fewer layers to peel back.

The Sale: With few foothold properties left in High Park, buyers are turning to homes they can purchase for the right price and renovate to their liking. This place received 11 offers. The high selling price undoubtedly has a lot to do with the house’s proximity to High Park and the downtown core.

By the Numbers:

• $1,120,000
• 3,000 square feet, approximately, not including the basement
• 130 per cent of list price
• 15 days on the market
• 11 offers
• 6 bedrooms
• 3-car private driveway
• 0 previous renovations