Back-split showing its age gets four offers from eager builders

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460 Patricia Ave., Toronto

Asking price: $1,399,000 (March, 2023)

Selling price: $1,425,000 (March, 2023)

Taxes: $6,496 (2022)

Days on the market: Two

Listing agent: Michael Steinman, Forest Hill Real Estate Inc.

The action

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This back-split house on a 50- by 133-foot lot preserves its original 1960s design and decor. The dated look was was not disincentive to builders and renovators who were confident they could rebuild the property and turn a profit upon resale. Within 48 hours of its coming to market in mid-March, four offers had been made, with the sellers accepting one that added $26,000 to the asking price.

“There was no offer date, so we weren’t pricing it for multiple offers,” said agent Michael Steinman. “But I did price it at the lower end of what the value was.”

“[In mid-March], there also wasn’t much else [buyers] could chose from.”

What they got

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Less than 300 metres from a school, a park, major retailers and a European grocer on Bathurst Street, this detached house has a standard back-split plan spanning four levels, plus a finished basement.

There are three bedrooms, four bathrooms and open living and dining areas.

Kitchens are on the main and lower levels. The floor halfway in between them has two guest bedrooms and a rear family room with patio doors.

For parking, there is a built-in double garage and a private driveway.

The agent’s take

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“It’s a bit of an older community, and like any other community, eventually homes will start turning over to younger buyers,” Mr. Steinman said. “But at the moment, a lot of people have been here for years and years.

“The lots there are really good sizes.”