Tiny Toronto home hits the market for $10 million but there's a good reason
A teeny-tiny home in Toronto has just hit the market, and its multi-million dollar price tag could raise eyebrows.
The two-storey narrow detached house at 114 Baldwin Street is listed for the sky-high price of $9,999,000.
It is typical of the brick homes that sit in the Kensington Market - Chinatown neighbourhood, and while it may seem quaint from the outside, the sticker price has more to do so with the land it sits on than the actual home.
From the outside look, the property seems to be in good condition, and the charming red brick exterior is definitely a plus for prospective buyers looking for a nice little home in the heart of the city.
But there are two more addresses attached to the listing where the big bucks lay.
Almost 15,000 square feet of future development presently used as paid parking lots, 75 Cecil Street and 114R Baldwin Street are described as a "rare urban infill site in the heart of downtown Toronto."
That means it's a total of three irregular-sized lots up for sale, sitting directly behind the home. The listing is labelled as "vacant land."
The actual house and one of the parking lots are quite narrow in size, but the third lot is pretty decent in size, enough to hold around 12 cars or maybe a new monster house.
Location-wise, the lot is close to lots of amenities and transportation options, including streetcar stops and subway stations, which would be ideal selling points for Toronto's next astronomical real estate offering should the owners build out the site.
There are no actual photos of the home provided in the listing, probably because the realtor believes this will be a tear-down in the near future.
On top of the almost $10 million price tag, annual property taxes will set you back around $42,000, though there are plenty of money-making opportunities in undeveloped land anywhere near the downtown core.
Listed just two weeks ago, it's safe to say the days for this teeny home are numbered - at least in its current state.
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