Sale of the Week: The Bloor West Village home that sold for $550,000 over asking

Address: 134 Colbeck Street
Neighbourhood: Bloor West Village Agent: Michael Inwood, Sutton Group Realty System Inc., Brokerage      

The property

A two-suite property in the west end that’s almost, but not quite, ready to rent out.

There’s a sunroom at the front of the house:

The living room has a fireplace:

The dining room has wood trim:

The kitchen is looking a little dated, but it’s nothing a trip to Ikea couldn’t fix:

There are three bedrooms on the main floor. Here’s one of them:

And another:

And another:

All three bedrooms share this bathroom:

The basement is unfinished:

The history

The seller has lived in the 1922 home for almost 50 years. She used to rent out the upper floor, but stopped when she got older and it became a hassle. When she moved into a retirement community, she gave power of attorney to her children, who put the property on the market.

The fate

The buyer plans to start by getting the upper unit ready for rental. The kitchen and bathroom were removed during a half-completed renovation years ago, so step one will be building new ones:

The sale

The house is unique for the area, so it generated quite a bit of interest: 70 showings, more than 120 visitors to the open house, and 12 offers. Though the house was priced under market value, it still went significantly higher than expected. The highest offer, more than $550,000 over asking, was the winner.

By the numbers

• $1,752,000 • $7,154.92 in taxes (2016) • 2,500 square feet • 7 days on MLS • 6 bedrooms • 3 bathrooms