$1M Corso Italia home listed as condo alternative
Property could appeal to those who want less space, more value
Price Sold for $1,109,000 Neighbourhood Corso Italia-Davenport
X-factor “This is a very turnkey home. The buyer doesn’t need to spend a dollar to fix anything or do anything when they enter the property, they just pack their bags and they come to this home,” said Shirin Manjili, the listing agent for 11 Via Italia.
The home offers two bedrooms plus a den and two full bathrooms.
New refurbishments of the property and the neighbourhood are the biggest selling points for the home, said Othneil Litchmore, our expert real estate agent.
After renovations, the front door opens up to a staircase and a modern open concept space. The living room is directly connected to the kitchen, which has stainless steel appliances and enough room to fit a table.
On the left side of the kitchen is a hallway leading to the backyard. In the backyard is a finished deck and a paved space, as well as a large door in the fence which can fit a vehicle through it.
The home is situated along a laneway and comes with a parking spot,
Manjili said.
Upstairs in the primary bedroom is a bay window and a space large enough to fit a queen bed with a night stand on each side.
The secondary bedroom is a smaller space, but still big enough to fit a double bed and a desk.
In the basement is the den and the second bathroom.
“It’s a good neighbourhood. Close enough to downtown or close enough to run to the subway,” Litchmore added.
After Little Italy, Corso ItaliaDavenport is Toronto’s second Italian neighbourhood, which Manjili said is very family friendly and within walking distance of “basically everything.”
Why is it a condo alternative?
It is mentioned in the listing that it’s a small home and a condo alternative for first-time homebuyers, Manjili said.
“They’re very desirable for those people … somebody who is selling, for example, their studio apartment or a one bedroom condo.”
Litchmore said the benefit of having the property on the ground also goes a long way.
What one might pay for a condo plus maintenance fees may actually just equal out to what this home is worth, Litchmore said.
He added, “that’s the thing because it’s not a big home. Someone might look at it and say, ‘OK, I’ll get more value for money being in this property as opposed to buying a highrise condo.’ ”
Was it listed at its value?
During the month of March, the average price of a detached home in Toronto was $1,708,437, according to the Toronto Regional Real Estate Board’s monthly report.
“I think the price is about right, haven’t had anything comparable sold in the neighbourhood in a while,” Litchmore said.
He added that we live in an environment where very few nice homes are for sale and often draw multiple people in on one property, leading to bidding wars that can drive up the price.
11 Via Italia was listed for $1,090,000 and sold for $19,000 over asking price.
Manjili said the property was reasonably priced and there weren’t a lot of apple-to-apple comparisons.