Canadian Property With No Bedroom Or Bathroom Hits The Market For Almost $1 Million
I don’t know about you, but where I live, the real estate market is completely out of control. It’s not at all uncommon for houses to sell for $100,000-$150,000 above asking price with bidding wars being the new normal. All I can say is that I’m extremely thankful we bought our house when we did – before things got so crazy! To prove how wild the real estate market is becoming, particularly in certain parts of North America, I wanted to share this recent listing with you – a garage that hit the market for almost $1 million.
That’s right – this structure with no bedrooms, bathrooms, kitchen, or any rooms at all hit the market $729,000 in the trendy Danforth Village Neighborhood of Toronto, Ontario, Canada. The rundown structure sits on a 20′ x 100′ lot, which is actually quite big for Toronto. The garage and property were advertised as a building opportunity – the new owners could build a small home or other structure on the lot.
The property was formerly listed in 2019 for $599,000. Just two years later, the property was back on the market with a cool $130,000 price jump. Such a steep price increase in a relatively short amount of time is pretty indicative of how wild the real estate market has become in some cities, especially already-expensive Toronto.
You’re probably reading this thinking, “Who in their right mind would pay almost $1 million for a tiny garage?” Well, someone did. Yep, this property sold – in just three days. I’m super curious to see what the new owners will do with this lot. Hopefully it ends up being worth their while!