Done Deal: Buyer scoops up aging row house with $250,100 bonus

Done Deal: Buyer scoops up aging row house with $250,100 bonus

One of Jim and Richard's listings was featured as a Done Deal in the Globe and Mail. The four-bedroom row house at 642 Wellington St. W hit the market in November and sold in 9 days for $250,100 over asking price. Here is the article posted in the Globe and Mail.


642 WELLINGTON ST. W., TORONTO

ASKING PRICE: $899,900

SELLING PRICE: $1,150,000

TAXES: $4,245 (2016)

DAYS ON THE MARKET: NINE

LISTING AGENTS: Jim Burtnick and Richard Silver, Sotheby's International Realty Canada


The action: When this four-bedroom row house hit the market in November, there were few comparable houses to compete with it in the highly desirable niche neighbourhood west of downtown. Seven visitors submitted offers, including one that added $250,100 to the list price.

642-wellington-heritage

"I didn't go crazy to underprice it," said agent Jim Burtnick.

It's a classic home in a triple A location right downtown. There are a lot of people who don't want to go in a condo, so this is an opportunity to take a house and put your own touches on it.

What they got: The brick façade and stained glass windows of this 1,798-square-foot Victorian are prominent features dating back to 1892. The formal living and dining rooms have crown mouldings and tall baseboards.

642-wellington-st-west-dining-room

For 80 years, the same family occupied the dwelling. They had replaced the roofing, some windows and wiring, and maintained a second kitchen on the upper floor above the main one. The latter has access to the basement, back deck and 15-by 64-foot grounds.

The agent's take:

The thing that really lends itself to renovation was it has a full three storeys with high ceilings on each floor. And the other redeeming feature was the original staircase banisters that could be restored nicely, so I could see a nice mix of old and new in there.

Originally posted in the Globe and Mail, written by Sydnia Yu.

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