| Done Deals

56 Parkwood Ave

56 Parkwood Ave

DONE DEALS TORONTO

SYDNIA YU

The Globe and Mail

  • 56 Parkwood Ave
  • Asking price: $1,795,000
  • Selling price: $2,712,000
  • Taxes: $13,475 (2007)
  • Lot size: 65 by 140 feet
  • Days on the market: 10
  • Listing agent: Elli Davis, Royal LePage Real Estate Services Ltd.

On a street running north of St. Clair Avenue, just east of Spadina Avenue, this two-storey house was priced especially low to attract as many potential buyers as possible, agent Elli Davis says.

The tactic worked: A handful of bids were submitted, including one offering a $917,000 premium.

The sale “surpassed anything I’ve done in 25 years,” Ms. Davis says.

While some interested parties thought the four-bedroom house – which dates back to the 1920s – should be renovated, most thought it should be torn down, the agent says. The buyer was among the latter group, and plans to build a new home on the maturely treed, 65- by 140-foot lot.

“It’s a very large lot on the corner of Montclair [Avenue] and Parkwood,” Ms. Davis explains, noting that other lots in the area average 50 feet in width.

“It’s quite a beautiful lot; it’s quiet and tucked away, and it [has] a lot of appeal.”

From the house, it’s “a very short walk to the Forest Hill Village,” she adds, and steps to top schools, the subway station and Sir Winston Churchill Park.

The dwelling has a centre-hall configuration, with formal living and dining rooms, a sitting room, tiled sunroom and eat-in kitchen.

A powder room rounds out the main floor.

Upstairs, the master bedroom has a semi-ensuite bathroom, while two secondary bedrooms share another bathroom. The fourth bedroom opens to a sunroom.

There also is a one-bedroom apartment above the double garage. The suite, which has often been used by hired help, includes a living room, kitchen, a full bathroom, and a separate entrance via an exterior staircase.

In the basement, there is a recreation room and second powder room.

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