Sale of the Week: the $900,000 Riverdale home that shows townhouses aren’t necessarily second-rate
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Address: 56 West Avenue
Neighbourhood: South Riverdale
Agent: Nick Gewarges , Right At Home Realty Inc., Brokerage
The Property: This three-storey home avoids most of the drawbacks of townhouse living with a location in a tight-knit community, end-unit positioning, three parking spots and freehold status (meaning, no condo fees). Six visitor parking spots are shared between 56 West Avenue and the other eight units in its private cul-de-sac complex. Plus, the home itself has been extensively renovated. It has a finished basement, and a walk-out deck on each level. One of these is located on the roof, where it provides a private retreat for the adjacent master bedroom.
The History: The complex was completed in 1987 and the builder himself picked this unit, originally shown as a model home, to live in. He transformed the kitchen, built a sauna in the basement and removed the third bedroom to raise the living-room ceiling to a dramatic 19 feet. Two parties, including the sellers, lived there after him. A more recent round of renovations included the addition of new hardwood floors, pot lights throughout, a designer fireplace and renovated bathrooms.
The Fate: The buyer is a young professional who works nearby. The neighbourhood’s demographic is starting to shift towards a younger crowd as older families sell off their homes. If the recent sale of Jilly’s strip club to a developer is any indication, the Queen Street area a short walk to the south will also be seeing some changes soon.
The Sale: Setting the listing price was a challenge, because similar homes in the area have been valued at anywhere from $600,000 to $1.3 million, and the cul-de-sac itself has low turnover. The sellers were expecting four offers after a weekend of open houses, but three backed out to avoid a multiple-bid situation. The sellers and the lone bidder struck up a rapport during two of the showings—a friendship that ultimately ensured the sale. The buyer started with an offer well below asking. Rather than sending him packing, the two parties’ familiarity made the sellers comfortable enough to enter an “old-school” negotiation uncommon in today’s market. They settled for $29,000 under asking after a series of spirited offers and counteroffers.
By the Numbers:
• $900,000
• $220,000 spent on upgrades
• 26 years old
• 95 per cent of list price
• 8 days on market
• 6 parking spots for guests
• 3 other parking spots (one in the garage and two in the drive)
• 3 walkout balconies
• 3 storeys
• 3 bathrooms
• 2 bedrooms
• 1 offer
276672 The home is the end unit in a row of townhouses (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-01-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-01.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-01.jpg 685 685 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-01/ toronto-sale-of-the-week-56-west-avenue-01 0 0
(Image: Virtual Viewing Photography & Video)
276673 Here's the foyer (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-02-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-02.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-02.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-02/ toronto-sale-of-the-week-56-west-avenue-02 0 0
(Image: Virtual Viewing Photography & Video)
276674 And here's the kitchen's eat-in area, which gets plenty of natural light (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-03-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-03.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-03.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-03/ toronto-sale-of-the-week-56-west-avenue-03 0 0
(Image: Virtual Viewing Photography & Video)
276675 The original owner of the house gave the kitchen its current open-concept layout (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-04-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-04.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-04.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-04/ toronto-sale-of-the-week-56-west-avenue-04 0 0
(Image: Virtual Viewing Photography & Video)
276676 The dining area (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-05-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-05.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-05.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-05/ toronto-sale-of-the-week-56-west-avenue-05 0 0
(Image: Virtual Viewing Photography & Video)
276677 The living area is open to the second floor, and probably has great whistling acoustics (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-06-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-06.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-06.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-06/ toronto-sale-of-the-week-56-west-avenue-06 0 0
(Image: Virtual Viewing Photography & Video)
276678 There's one bedroom on the second floor of the house (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-07-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-07.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-07.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-07/ toronto-sale-of-the-week-56-west-avenue-07 0 0
(Image: Virtual Viewing Photography & Video)
276679 The second-floor bedroom (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-08-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-08.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-08.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-08/ toronto-sale-of-the-week-56-west-avenue-08 0 0
(Image: Virtual Viewing Photography & Video)
276680 And here's the second-floor washroom (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-09-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-09.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-09.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-09/ toronto-sale-of-the-week-56-west-avenue-09 0 0
(Image: Virtual Viewing Photography & Video)
276683 The master bedroom has the third floor (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-11-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-11.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-11.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-11/ toronto-sale-of-the-week-56-west-avenue-11 0 0
(Image: Virtual Viewing Photography & Video)
276684 And here's the master bedroom's en suite washroom, with spa-like stone finishes (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-12-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-12.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-12.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-12/ toronto-sale-of-the-week-56-west-avenue-12 0 0
(Image: Virtual Viewing Photography & Video)
276685 The lower level is where the party is (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-13-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-13.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-13.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-13/ toronto-sale-of-the-week-56-west-avenue-13 0 0
(Image: Virtual Viewing Photography & Video)
276686 There's this rec room, with doors to the backyard (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-14-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-14.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-14.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-14/ toronto-sale-of-the-week-56-west-avenue-14 0 0
(Image: Virtual Viewing Photography & Video)
276687 And then, of course, there's the private sauna (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-15-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-15.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-15.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-15/ toronto-sale-of-the-week-56-west-avenue-15 0 0
(Image: Virtual Viewing Photography & Video)
276688 The house also has two upper decks. This one is located on the rooftop (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-16-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-16.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-16.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-16/ toronto-sale-of-the-week-56-west-avenue-16 0 0
(Image: Virtual Viewing Photography & Video)
276689 And here's the second-floor deck (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-17-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-17.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-17.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-17/ toronto-sale-of-the-week-56-west-avenue-17 0 0
(Image: Virtual Viewing Photography & Video)
276690 No lawnmowers necessary in this backyard (Image: Virtual Viewing Photography & Video) Sale of the Week: 56 West Avenue Sale of the Week: 56 West Avenue https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-18-96x96.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-18.jpg https://torontolife.com/wp-content/uploads/2014/05/toronto-sale-of-the-week-56-west-avenue-18.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-56-west-avenue/slide/toronto-sale-of-the-week-56-west-avenue-18/ toronto-sale-of-the-week-56-west-avenue-18 0 0
(Image: Virtual Viewing Photography & Video)
Wow, amazing place. Wish I had the chance to see it in person.
nice place! how can young professionals afford a million dollar place?
Riverdale is definitely coming into vogue. I have clients ask for the Riverdale neighbourhood candidates for a “Fix & Flip” to meet the new demand. Several homes to buy low and finish to your tastes, and you don’t even need to buy a hammer. Find Your Diamond in the Rough Online, Anytime. http://www.ChooseRemax.ca
nice place indeed, you can have mine for a 100k less.