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Real Estate

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be
Listed At
$1,349,000
Sold For
$1,700,000

Address: 69 Woodfield Road
Neighbourhood: Greenwood-Coxwell Agent: Audrey Azad, Re/Max Hallmark Audrey Azad Group Realty Ltd., Brokerage Previously sold for: $870,000, in May 2017      

The property

A large, newly renovated semi near Ashbridges Bay.

The history

The seller is in the business of flipping homes. He added a 20-foot-long, three-storey addition with a basement walkout to the rear of the house, and it worked: he sold the property for almost twice what he bought it for.

Here’s the living area. The floors are engineered oak:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

The dining area:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

The kitchen has quartz countertops:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

And here’s the family room, at the back of the house:

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Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

Second-floor laundry rooms are an underrated perk. (Why not have the washing machine on the same floor as all your clothes?)

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

Here’s one of the bedrooms:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

This one makes up for its lack of windows with a skylight:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

Another bedroom:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

And the master bedroom:

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Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

The master bedroom has a bit of closet space:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

And here’s the master ensuite:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

There’s a rec room in the basement:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

And another bedroom:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

And a pretty nice bathroom:

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Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

And here’s the view from the rear:

Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be
The fate

The buyers are a young couple with one child who live a short distance from the house. They had been looking in the area for some time. The basement has a rough-in for a kitchen, in case the buyers want to convert it into a rental suite.

The sale

The agent set an asking price that was alluringly low—but not so low that it would invite offers from lowballers hoping to score a semi on the cheap. There were three preemptive offers, and the sellers accepted one of them, for $351,000 over asking.

By the numbers

• $1,700,000 • $4,000 in taxes (approximately) • 2,000 square feet (approximately) • 6 bedrooms • 4 bathrooms • 3 days on MLS

The Hunt

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