Sale of the Week: The $1.3-million west-end home that shows how renovations can pay off

Address: 81 Sheridan Avenue
Neighbourhood: Little Portugal Agents: Kathy Essery and Pavlena Brown, Sage Real Estate Limited, Brokerage Previously sold for: $562,500, in 2010      

The property

A former triplex that increased dramatically in value after a few years and some renovations.

The history

The 1912 house was originally a single-family dwelling. When the sellers bought the property in 2010, though, it had been divided into three separate apartments. They renovated the interior back into a unified living space, though the basement still has its own bedroom and kitchen. With their second child on the way, they’ve decided to look for a larger home.

Here’s the living area, at the front of the house:

The dining area:

The kitchen has quartz countertops:

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

Another bedroom:

And the master bedroom:

All three bedrooms share this hallway bathroom, with marble flooring:

There’s a little bit of spare space in the basement:

Also a fourth bedroom:

And a kitchen:

And here’s the backyard and garage:

The fate

The agents tried to market the property to young families, but the buyer is a single person who works as a chef. She loved the top-quality renovations, including the large main-floor bathroom and the open kitchen. She’s considering using the basement as an income suite.

The sale

The sellers were hoping to cash in before new, more stringent mortgage rules take effect in January. There were eight offers after 50 showings. The sellers asked for a long closing, to allow them more time to settle their finances as they look for a new home.

By the numbers

• $1,300,427 • $3,974 in taxes (2017) • 1,500 square feet • 5 days on MLS • 4 bedrooms • 3 bathrooms