Piece of land that is nothing but dirt and grass on sale for $1 million in Toronto
An unremarkable-looking patch of land with just enough space for a single-family home (one that has yet to be built, mind you) just hit the wild and wacky real estate market of Toronto for nearly seven figures.
There's not much to say about the lot as it exists right now: It could easily pass for one of those $40/night campsites within an Ontario provincial park.
Save for a few wooden planks and a lone Muskoka chair that might belong to the neighbours, it's basically a $985,000 splash of dirt in the middle of some foliage.
Crazy as the price tag may seem when looking at photos of the 50 x 95 foot lot itself, zooming out to consider that number within a wider context is necessary here.
Located at 172 South Kingsway in Toronto's coveted High Park-Swansea neighbourhood, the land's address alone makes it worth a pretty penny.
It's within walking distance of the Humber River and High Park, it boasts remarkably quick access to the Gardiner Expressway and Lake Shore for commuters, and it's nestled almost exactly between Lake Ontario and Bloor West Village.
It's an ideal location for people who dig big houses, mature trees and access to water.
There's also the "rare" factor workin in this listing's favour: According to realtors, 172 South Kingsway is "the final buildable lot" on the entire street.
"An opportunity not to be missed," reads the listing from Gilmore Property Group. "One of the rare 50' frontages along the street with a ravine at the back of the property and private treed views."
What might be most attractive to whoever purchases the land is that there are no neighbours on one side: A parkette (the South Kingsway Parkette) runs for about 600 feet just south of the lot.
Realtors are billing the listing as an "ideal opportunity to land bank" or build a dream home / investment property, and say that smaller lots with frontages of around 36 feet have recently sold for upwards of $2.6 million.
True as it may be that you could flip this lot for a mint, you'd need a great deal of money to build something — anything — on the land once you buy it.
Though, I suppose, if you've already got a million bucks to invest in a patch of dirt, what's another million or two to put a house atop it?
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