A small, shed-like property in Little Italy is now on the market with an asking price of $999,999.
The detached bungalow features two bedrooms, one bathroom and a small kitchen on a 2,600-square-foot lot at 300 Euclid Ave., between College Street and Dundas Street.
The lot also comes with a detached two-car garage and a small backyard. It has no den or family room.
The listing on Realtor.ca describes the home as “rare” and with a “great size lot” and notes that it has potential to be a “great investment.”
It is likely the real value of this property lies in the land rather than the property itself, the latter of which can be developed into a bigger, multi-storey property that is already in a prime location — nestled between Trinity Bellwoods Park and Kensington Market. As the listing notes, the property is steps away from local shops, restaurants, bars, parks, schools and entertainment. It’s also easily accessible by public transit.
The property has been on the market for six days and actually sold for a higher price in 2016, at $1,218,000 from its listing price of $899,000.
This bungalow is one example of the Toronto real estate market’s resurgence after slowing down during the peak COVID-19 pandemic.
Earlier this month, the Toronto Regional Real Estate Board said home sales in the GTA were up 84 per cent in June compared to May of this year — when the quarantine was in full effect. Compared to 2019 numbers, home sales in June are only down 1.4 per cent.
Prices are also staying high, averaging $930,869 in June, an increase of 11.9 per cent compared to last year. With interest rates low, this may just be the time to make a move.
For someone looking for a fixer-upper or a complete tear-down and rebuild type of project, 300 Euclid Ave. could be a perfect fit.