Sale of the Week: the $725,000 semi that shows Kensington Market’s rental potential
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Address: 64 Wales Avenue
Neighbourhood: Kensington Market
Agent: Amir Shahi , Sage Real Estate Limited, Brokerage
The Property: This starter-home-sized Kensington Market Victorian comes stocked with new kitchen appliances and granite counters. However, the relatively shallow lot leaves only just enough room for a cedar deck out back, and no parking. The house makes up for that with proximity to the neighbourhood’s shops, parks and hospital.
The History: The previous owners were a pair of young urban professionals who wed around the time they bought the house for about $550,000 several years ago. They put in new hardwood flooring, installed new windows, replaced the electrical wiring and opened up the main floor. Owing to Kensington’s uncommon economic diversity, 64 Wales shares the street with several three-storey Toronto Community Housing townhouses.
The Fate: The home was bought up by investors who saw great rental potential in the area. The semi will ultimately be leased. The future of Kensington is uncertain , though, as new shops catering to a more affluent clientele move in, buoying rents for residents and businesses alike. For their part, the new owners of 64 Wales are asking $3,500 a month.
The Sale: The property was marketed to young urban couples and investors. It was originally offered at $769,900, but softened over time to its final listing price, $737,500. After many showings during the first week, the home drew three offers. Two fell short, but the third allowed room to negotiate. The house closed at $725,000.
By the Numbers:
• $725,000
• 1,300 square feet above grade, approximately
• 98 per cent of list price
• 15 days on market
• 14.79-by-58.29-foot lot
• 10-foot ceilings
• 3 bedrooms
• 3 offers
• 2 bathrooms
281296 The house is a typical Kensington Victorian, located across the street from Toronto Western Hospital Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-01-200x200-1405603647.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-01.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-01.jpg 667 1000 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/sale-of-the-week-toronto-64-wales-avenue-01/ sale-of-the-week-toronto-64-wales-avenue-01 0 0
281297 Most of the house, including the living room, has newish hardwood flooring Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-02-96x96.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-02.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-02.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/sale-of-the-week-toronto-64-wales-avenue-02/ sale-of-the-week-toronto-64-wales-avenue-02 0 0
281298 Here's a view from the living room to the back of the house Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-03-96x96.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-03.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-03.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/sale-of-the-week-toronto-64-wales-avenue-03/ sale-of-the-week-toronto-64-wales-avenue-03 0 0
281299 The house is tightly sandwiched between its neighbours, so windows are a little scarce Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-04-96x96.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-04.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-04.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/sale-of-the-week-toronto-64-wales-avenue-04/ sale-of-the-week-toronto-64-wales-avenue-04 0 0
281300 But the kitchen has been updated Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-05-96x96.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-05.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-05.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/sale-of-the-week-toronto-64-wales-avenue-05/ sale-of-the-week-toronto-64-wales-avenue-05 0 0
281326 Another view of the kitchen Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/toronto-sale-of-the-week-64-wales-avenue-11-96x96.jpg https://torontolife.com/wp-content/uploads/2014/07/toronto-sale-of-the-week-64-wales-avenue-11.jpg https://torontolife.com/wp-content/uploads/2014/07/toronto-sale-of-the-week-64-wales-avenue-11.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/toronto-sale-of-the-week-64-wales-avenue-11/ toronto-sale-of-the-week-64-wales-avenue-11 0 0
281302 This is one of three bedrooms on the second floor of the house Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-07-96x96.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-07.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-07.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/sale-of-the-week-toronto-64-wales-avenue-07/ sale-of-the-week-toronto-64-wales-avenue-07 0 0
281301 The master bedroom Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-06-96x96.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-06.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-06.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/sale-of-the-week-toronto-64-wales-avenue-06/ sale-of-the-week-toronto-64-wales-avenue-06 0 0
281325 And here's the main washroom Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/toronto-sale-of-the-week-64-wales-avenue-10-96x96.jpg https://torontolife.com/wp-content/uploads/2014/07/toronto-sale-of-the-week-64-wales-avenue-10.jpg https://torontolife.com/wp-content/uploads/2014/07/toronto-sale-of-the-week-64-wales-avenue-10.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/toronto-sale-of-the-week-64-wales-avenue-10/ toronto-sale-of-the-week-64-wales-avenue-10 0 0
281327 The house is on a fairly small lot, but it still manages to fit in a decent patio Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/toronto-sale-of-the-week-64-wales-avenue-12-96x96.jpg https://torontolife.com/wp-content/uploads/2014/07/toronto-sale-of-the-week-64-wales-avenue-12.jpg https://torontolife.com/wp-content/uploads/2014/07/toronto-sale-of-the-week-64-wales-avenue-12.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/toronto-sale-of-the-week-64-wales-avenue-12/ toronto-sale-of-the-week-64-wales-avenue-12 0 0
281304 There's a rec room in the basement, and also this washroom Sale of the Week: 64 Wales Avenue Sale of the Week: 64 Wales Avenue https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-09-96x96.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-09.jpg https://torontolife.com/wp-content/uploads/2014/07/sale-of-the-week-toronto-64-wales-avenue-09.jpg 1000 667 [] https://torontolife.com/real-estate/sale-of-the-week-64-wales-avenue/slide/sale-of-the-week-toronto-64-wales-avenue-09/ sale-of-the-week-toronto-64-wales-avenue-09 0 0
This is a beautiful home. I browsing through these ‘Sale of the Week’ posts. Such local gems!
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