This dated bungalow in Richmond Hill is going for $5 million
Usually when things are bundled together you get a discount – you know, buy one get one 50 per cent off or whatever.
But in the case of 186 King Rd. and 192 King Rd. in Richmond Hill there's no such luck.
The properties are each individually listed but the realtor is really trying to sell them as a package deal for $5,000,000. So what do you get for a cool $5 million?
Well, at 192 King Rd. there is a multi-income property, which is comprised of a four-bedroom bungalow with an attached rental unit.
The rental unit has one bachelor apartment and a two-bedroom apartment above the detached garage.
The bungalow, aka the main home, is definitely not worth the original $2,800,000 it was first listed at. In short, it's quite dated.
And while it is livable, it needs some major renovations to bring it into the 21st century.
And if outdoor space matters to you for a future home well there isn't any nice outdoor space. The surrounding property is just a concrete parking lot.
So, while this property could continue being a home and rental units, it will probably get torn down so something bigger can be built on the land as the adjoining property, 186 King Rd., is zoned as a mixed commercial and residential building.
Currently 186 King Rd. is a laundromat.
But according to the realtor, Rex Cheng, it could also be a nursery, service shop, veterinary clinic, medical office or health centres. The zoning might explain the recent price hike from $2.2 million to $2.8 million.
But not sure that was warranted even if the listing says the building is "in good shape."
The combined lots offer 125.62 by 148.67 feet of space – or over half an acre.
And with the location being close to transit and the amenities surrounding Yonge St. it could easily become a condo building, since we are in a housing crisis, and all that jazz.
But even all that considered, I still don't think these two properties are worth $5 million.
Especially when you take into consideration they've tried to sell this combo lot before in 2017 for much less and it never sold.
Maybe if they'd offered a buy-one get-one free discount they'd have more luck...
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