Run-down and stamped with a high price tag is the new black. This newly-listed Etobicoke house, deemed "unsafe to enter" and priced at $999,000, makes the case.
To be fair, the first line of this listing warns that the property is being sold as land value only. The house that currently stands at 199 Thirtieth Street caught fire and, as such, isn't safe to enter. Those interested in viewing the space can book an appointment to "walk the land."
Listed just two days ago, the house specs show both the bedroom and bathroom counts as 0, and offer "no data" in the square-footage department. However, the lot itself spans 45.50 x 134 feet, and the listing does offer the possibility of "many permitted uses," including, but not limited to, becoming an animal shelter, artist studio, park, or even a police station.
Where location is concerned, the property rests directly between Brown's Line and Kipling, just south of Horner Avenue. Long Branch GO Station, as well as both the QEW and Highway 427 are nearby, and the neighbourhood as a whole is seen as an up-and-coming residential area.
READ: Sold: Tiny Shed-Like Toronto House Sells for 800K Over Asking
That "up and coming" label is likely a contributing factor to the listing's price tag, which comes in just shy of $1 million. What's perhaps obvious, however, is that the initial million that's put down for this place will only be the beginning, as the cost of a rebuild brand new home looms.
In (very) recent history, a similar case played out closer to the downtown core. This detached 1-bedroom, 2-bathroom bungalow, located at 300 Euclid Avenue, is more reminiscent of a shed than a home. The listing hit the market last month for $999,999, and soon sold for $800,000 over asking.
This spot's circumstances are different though, as the benefits of being steps from Trinity Bellwoods Park, Little Italy, and Kensington Market are not on the table. This listing does have over 3,503 sq. ft. on the downtown property, but even so, it's painful to review the address's price history and watch as the numbers climb over time.
Specs:
- Type: Detached, Bungalow
- Bedrooms: 0
- Bathrooms: 0
- Sq. ft: N/A
- Lot: 45.50 x 134.41 Feet
- Taxes: $2,745
- Listed for: $999,000
- Listed By: RE/MAX
On April 12, 2007, the house was listed for $279,000; the record shows that on April 13, the property was sold for 265,000. Over the next 10 years, the address was posted and removed a couple times, before selling in 2017 for the listed price of $698,800.
In 2019, the house was listed again; this time it was posted in April for $769,000, but went in October for $600,000. If history repeats itself, a savvy buyer might be able to pull this place down from toeing the $1 million line this time around.
