Why is this 3-bedroom Toronto townhouse listed for $699,990?

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Why is this 3-bedroom Toronto townhouse listed for $699,990?
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Fresh on the market, this freehold townhouse property in Toronto’s Corso Italia-Davenport neighbourhood has more than 1,500 square feet and sits near St. Clair Avenue West and Caledonia Road.

A new listing in Toronto’s Corso Italia-Davenport neighborhood is priced well under $1 million — and could be an entryway for buyers looking to get intoThis three-bedroom, three-bathroom townhouse at 17 Gilbert Avenue has a price tag of $699,990, a rare find and the cheapest in the vicinity in terms of comparable bedrooms and bathrooms. Located in the area of St. Clair Avenue West and Caledonia Street, this 1,565-square-foot property made its appearance on the market a few days ago.

The top floor has two bedrooms and a bathroom, with a third bedroom on the main floor. The unfinished basement has a utility room and bathroom. Baez says the townhouse belongs to a couple who live on the main floor. According to Sussman, registry records show a transaction with an unlisted price when the home was first purchased in 1967. Now 55 years later, it’s on the market.According to Sussman, the property is properly priced but requires a lot of work. “If you can buy this place, you buy it for 700 and put 200 grand into it, maybe you’re ahead of the game, maybe you’re smarter than everybody else,” says Sussman.

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