Sold! Toronto home goes for $363K over asking

This is one of those houses that requires you to look past the atrocious wallpaper, or you’ll never see the true value. The home was owned by the same family for 60 years, and from the looks of the photos, they haven’t done much to it in at least 30.The house is nestled in between the Summerhill and Rosedale neighbourhoods, and it sits on a decent plot of land, making it ideally suited to some hardcore renovations.

There are five bedrooms and two bathrooms. The bedrooms are spacious enough and the master bedroom has a lovely bay window.

The kitchen is a galley kitchen with plenty of storage space.

The backyard is large and surrounded by mature trees. With a little landscaping, it would be the perfect summer oasis.  

The Essentials

• Address: 78 Summerhill Avenue
• Type: House
• Bedrooms: 5
• Bathrooms: 2
• Size: 25 x 130 feet
• Realtor: Avi Bodenstein from One Percent Realty Ltd. Brokerage
• Hit the market at: $1,999,000
• Sold for: $2,361,500

Why it sold for what it did?

Location, location, location. This neighbourhood is home to many a fancy house, and while this one is definitely a gut job, the land it’s sitting on is worth something.

Was it worth it?

Personally this place seems like a lot of work but that being said, nicely renovated houses in this neighbourhood have been known to go for over $3 million, so there’s a good chance you’ll make a return on your investment.