Sale of the Week: an $801,000 High Park fixer-upper shows that Toronto still loves the classics
Address: 807 Indian Road
Neighbourhood: High Park
Agent: Niraj Sharma, Royal LePage Real Estate Services Ltd., Brokerage
The Property: While some parts of the city are clamouring to modernize, there remains a certain appeal to the classic Toronto home. This brick two-storey still has many of its original features, including wainscoting, trim and leaded windows. The french doors and oak hardwood floors have been meticulously maintained and show few signs of wear. A particular draw: there’s a bachelor apartment in the basement that could help offset the mortgage.
The History: The home was built around the turn of the century, and it sports an architectural style now iconic in Toronto’s west end. The previous owners had lived there since the mid-’60s, and their pride of ownership shows.
The Fate: Few classics in Toronto are marketed without an “as is” clause, and even this one may require some TLC in the bathrooms and the kitchen. Still, spending $100,000 on renovations will almost instantly put the home’s value in the $1.1-million range—at least, according to the agent, who deals primarily in High Park properties. Plus, 807 Indian Road is located right where two up-and-coming neighbourhoods meet (The Junction and Roncey). This investment seems destined to pay off.
The Sale: The property’s previous owner entrusted this agent, a close family friend for over three decades, with the house’s future. The agent did the property proud, pouring four months into marketing. After one re-listing, 807 Indian Road was sold for fair market value. The agent’s strategy for selling classic homes is to aim for first-time buyers who are seeking good locations, but who are amenable to a little fixing-up.
By the Numbers:
• 95 per cent of list price
• 27- by 126-foot lot
• 4 months to sell
• 3+1 bedrooms
• 2 bathrooms
• 2 kitchens
• 1 basement apartment