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January 7th, 2025Olea in the News
Globe and Mail Article: Decluttered semi gets two offers but sells $135,999 under asking
“This was a gorgeous Victorian style house that had been neglected over the course of the pandemic,” said agent Munira Ravji.
“By just clearing the back yard, we gained them probably $100,000 just because of the parking pad,” said Ms. Ravji. “And the great thing is, it’s also eligible for laneway housing.”
ROYAL LEPAGE SIGNATURE REALTY
Link to original Globe & Mail Article Below
211 Shaw St., Toronto
Asking price: $1,499,999 (November, 2022)
Selling price: $1,364,000 (December, 2022)
Taxes: $5,896 (2022)
Days on the market: 21
Listing agents: Elias Ben Khelifa and Munira Ravji, Royal LePage Signature Realty
The Action
‘Everybody loves a fixer-upper on a street like Shaw,’ says agent Munira Ravji. Royal LePage Signature Realty
This semi-detached house is one street west of Trinity Bellwoods Park on a 17-by 114-foot lot, but much of its potential was hidden by clutter, inside and out. An extensive clearing out uncovered a rear parking pad unused for years.
“This was a gorgeous Victorian style house that had been neglected over the course of the pandemic,” said agent Munira Ravji.
“By just clearing the back yard, we gained them probably $100,000 just because of the parking pad,” said Ms. Ravji. “And the great thing is, it’s also eligible for laneway housing.”
Factoring in all its assets, the three-bedroom house was listed one dollar under $1.5-million. The first offer was far below the asking price. It was improved five days later, but not enough to beat a second bidder offering $1,364,000 – $135,999 under the asking price.
“In a more active market, people really would have flocked to [this house] because everybody loves a fixer-upper on a street like Shaw,” said Ms. Ravji. “But these days, buyers are more reluctant to take on big reno jobs.”
What they got
Hardwood floors and decorative trims grace the living and dining rooms.Royal LePage Signature Realty
This two-storey house was built in the 1920s with a yellow brick façade. Inside, classic hardwood floors and decorative trims grace the living and dining rooms.
A four-piece bathroom is located upstairs.
The Agents take
Ravji says the parking pad likely added $100,000 in value. Royal LePage Signature Realty
“Other houses were either in much worse condition than ours or had a weird layout, or they were completely renovated. So there weren’t many houses like ours that just needed the cosmetic work,” said Ms. Ravji.
“It had an unfinished basement, but it had a separate entrance, so you could build a basement unit.”
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