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Real Estate

Sale of the Week: The $1-million Junction building that shows what a west-end commercial space is worth

By Kelly Reid| Photography by Shane Fester
Sale of the Week: The $1-million Junction building that shows what a west-end commercial space is worth
Listed At
$899,000
Sold For
$1,000,419

Address: 419 Jane Street
Neighbourhood: The Junction Agent: Brennan Aguanno and Anna Kemp, Sotheby’s International Realty Canada, Brokerage Previously sold for: $465,000, in 2011    

The property

A residential/commercial/income property trifecta in the Junction.

There’s a two-bedroom apartment on the second floor. Here’s the living room:

toronto-house-sold-419-jane-street-2

There’s a dining room connected to the living room:

toronto-house-sold-419-jane-street-3

Here’s the guest bedroom, currently set up as a nursery:

toronto-house-sold-419-jane-street-4

The two bedrooms share this bathroom:

toronto-house-sold-419-jane-street-5

The master bedroom:

toronto-house-sold-419-jane-street-6

The ground-floor storefront is currently not up to much:

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toronto-house-sold-419-jane-street-7

And there’s a backyard, so to speak:

toronto-house-sold-419-jane-street-8
The history

The seller bought the building 2011 and opened up a pilates studio on the ground floor. In 2014, she moved to Belgrade and rented out the storefront to a nursery school, while a family took over the two-bedroom apartment on the second floor. When the school closed about four months ago, the seller chose to list the property for sale, rather than try to rent it out from overseas.

The sale

Selling the property was tricky, because showings had to be scheduled around the needs of the upstairs renters, who have a baby. There were two offers. It was close, but the buyers won with an unconditional bid a little more than $100,000 over asking.

By the numbers

• $1,000,419 • $9,980.00 in taxes (2015) • 2,400 square feet • 9 days on the market • 3 bathrooms • 2 bedrooms

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Correction
November 11, 2016

This post originally mischaracterized the buyers of 419 Jane Street and their intentions for the property. They are not sisters, and do not intend to turn the ground-floor retail space into a yoga studio.

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