The dream of owning a detached home in Toronto is dead for many aspiring buyers. And when you see what's available for less than $1M, it's not hard to understand why.
A detached home at 256 Gowan Avenue in the city's East York region came on the market earlier this month with an asking price of $949,000 -- a seemingly appealing number for a house in Toronto. But on top of an inevitable bidding war that will likely push the price much higher, the home is in need of some serious renovations -- or an altogether demolition and rebuild -- before it would be comfortable to live in.
The 100-year-old, one-storey house, as it stands right now, has three bedrooms and one bathroom. Its walls are weathered and stained, its flooring heavily marked up -- or in some rooms, missing altogether -- and its basement unfinished. The kitchen, although large, appears dated, with linoleum flooring, wood-panelled walls, and a wallpaper border. In another room, one of the walls appears to have drywall missing and the wooden framing visible, with two curiously placed cabinet doors leaning up against it.
Down in the basement, there are a number of rough wooden shelves, plus a washer, dryer, and laundry sink.
Specs:
- Address: 256 Gowan Avenue
- Bedrooms: 3
- Bathrooms: 1
- Price: $949,000
- Listed by: RE/MAX Crossroads Realty Inc.
Although the home certainly isn't turn-key, the listing notes that there is plenty of potential on this property for anyone willing to put the work (and money) into it. The home sits on a fairly sizable 20x150-ft lot, meaning there's quite a long backyard to be used as either outdoor space or building room. The yard currently home to a chainlink fence on one side, a wooden fence on the other, and a garden shed near the back of the house.
A number of neighbouring properties on the street have larger, newer houses, so a buyer with an intention to build a bigger home wouldn't be all too surprising.
The location of the property itself will likely be a big draw for buyers. It's just a few minutes dive from the DVP and Evergreen Brickworks, and is walking distance from many restaurants, shops, schools, and the TTC.
What final price this property will fetch -- and what will become of the house that's currently on it -- remains to be seen.
EXTERIOR
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
INTERIOR
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
RE/MAX Crossroads Realty Inc.
