62 King Edward Avenue Toronto

Sold! Bizarre Toronto house gets flipped for big cash

Give Toronto's real estate market, it's not a huge shock when a house sells for way over asking price. Even a recent example that went for double its initial asking price didn't seem that bizarre, but 62 King Edward Avenue in East York proves there are still some surprises out there.

The Mash has followed this one pretty closely over the last few months, so I'll just give the abridged version. This property was listed for $599,000 with a smaller house on it back in fall 2013. A new home was built and it was subsequently re-listed at $748,899.

62 King Edward Avenue TorontoIt didn't sell right away, but was eventually snapped up after a price drop at just under $690,000 in October. Three months later it wound up back on the market with a price tag of $799,000 and then $899,000 before eventually selling for $850,000.

If you're keeping track, that's an increase of over $160,000 in the span of roughly three months. Such a dramatic flip would be noteworthy on its own, but when you take into account just how strange this one looks — from the facade to the the narrow lot — it's borderline maddening.

62 King Edward Avenue TorontoThe Essentials
  • Address: 62 King Edward Ave.
  • Previous selling price: $687,000 (Oct. 2016)
  • Previous listing price: $799,000 (Jan. 2017), $599,000 (Sept. 2013)
  • Most recent listing price: 879,000
  • Time on market: 17
  • Selling price: $850,000
62 King Edward Avenue TorontoWhy it sold for the price it did

Because it's a 3+1 bedroom new home in a rising area. The price is definitely high given the property's history and its selling price last October, but the neighbourhood where this house is located has witnessed an over 300 per cent increase in home prices since 2001.

62 King Edward Avenue TorontoWas it worth it?

As of late 2016, the average house price in Woodbine-Lumsden was $764,748. Given the dubious exterior detailing, you'd have expected this one to stay in that range. Let's chalk up the selling price to a housing market dangerously low on detached houses.

62 King Edward Avenue Toronto

Lead photo by

Imagine a Home


Join the conversation Load comments

Latest in City

10 organizations to support on GoFundMe instead of Adamson BBQ

Toronto finally decides to save the city's oldest tree and make it the focal point of a new park

Doug Ford tells protestors to stop going after his neighbours and acting like buffoons

Toronto is installing tons of free curb lane parking spots to support local businesses

Toronto agrees to clear snow from more sidewalks this winter

Here's the list of all streets in Toronto that could get dedicated transit lanes

A church in Toronto is taking requests for prayers and people have a lot to say

Multiple families fighting against eviction from Toronto apartment complex