A package deal in Toronto offers two semi-detached houses for the price of one, but the catch lies in the land severance application. While the deal presents potential for profit by selling the houses separately, approval and timeline remain uncertain, making the investment contingent on the land division.
, the average price for a single detached house in Toronto last month was $1,235,000, while a semi-detached house was just under $1 million. 335 and 337 Craven Rd. are both sitting on what is technically a single piece of land and are being sold as a package deal. It is a two-storey semi-detached house with two bedrooms, one bathroom, and a finished basement. Meanwhile, 337 Craven Rd. is a one-bedroom, one-bathroom bungalow without a finished basement. The living room of 335 Craven Rd.
If we're being honest, neither house is particularly spectacular. There are no major red flags, but the homes are dated and generally in need of a bunch of renovations and updates. But even still, when you can get two houses for the price of one in this famously expensive city, that's a deal. Also, it's worth mentioning that the lots are in the process of being separated, which means you could make double by selling the two houses separately in the future. In short, you're looking at a healthy profit, but that's really only if you can divide the lot up.
Toronto Real Estate House Package Deal Land Severance Investment Property Renovations
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Uptown Toronto semi requires two price cuts to sellIn the fall, a further $30,000 price cut brought in another offer and a deal for the three-bedroom house was cut for $1.53-million
Read more »
Toronto Public Health warns of possible measles exposure at Toronto Pearson AirportToronto health officials are warning that travellers at Toronto Pearson Airport Terminal 1 may have been exposed to measles this week.
Read more »
Toronto Real Estate Sees Slow Year Despite Price StabilityToronto's real estate market experienced a slowdown in 2024, with residential sales declining compared to previous years. However, average home prices remained relatively stable, influenced by lower interest rates.
Read more »
Toronto Condo Seller Makes Price Cut, Finds Buyer Quickly in Challenging MarketThis news story highlights the difficulties sellers faced in the Toronto condo market last year. Despite a well-located and appealing unit, the seller had to significantly reduce the price to attract a buyer. The story also emphasizes the importance of market awareness and strategic pricing in real estate.
Read more »
Canadian Grocers End Annual Price Freeze, Expecting Price IncreasesCanadian grocers are ending their annual three-month freeze on price increases from suppliers, signaling potential price hikes for consumers in the coming weeks. This practice, aimed at stabilizing prices during the holiday season, has become increasingly scrutinized in recent years amidst high food inflation and public pressure on grocers.
Read more »
Toronto Developer Secures Settlement Approvals for Two Landmark ProjectsA Toronto-based developer has secured two settlement offer approvals for separate development projects after facing multiple challenges, including heritage designations and lengthy appeals processes.
Read more »