Dilapidated garage hits the Toronto housing market for $729,000
TORONTO -- A dilapidated garage with no bedrooms, bathrooms or kitchen in Toronto’s fired up housing market is selling for an eye-watering $729,000.
The property, located at 951B Greenwood Avenue in the Danforth Village area, recently hit the market and is "conveniently located with subway, schools, shops and other amenities nearby," according to the listing.
The lot itself, located in the Greenwood and Coxwell area, is about 20-feet-wide and 100-feet-deep and has a parking space. In photographs of the listing, a small garage can be seen standing between two houses. A parking space is visible in the front of the garage and a few trees and plants can be seen behind it.
According to the listing, the property is being sold for land value only.
Property taxes for the home will set the new owner back $2,644.69 each year.
This same property drew attention in 2019 when it hit the market for nearly $600,000.
It doesn't appear any work has been done on the property since it was first listed but the price has jumped nearly $130,000.
The Toronto Real Estate Board said in January the average price of a home sold last year hit a new record as the number of sales climbed 8.4 per cent compared with 2019.
The board says the average selling price in Greater Toronto was $929,699 in 2020, up 13.5 per cent from $819,279 compared with 2019.
The board says after a steep drop in the spring due to the pandemic, the market took off in the second half of the year.