08 Jul Purchased: 492 Salem Ave
PURCHASED by an astute do-it-yourself couple
Represented by Nick Horton, salesperson
492 Salem Ave (Dupont & Dufferin)
Detached 3 Unit Home/ 3 BATHROOM / Original Asking $1,190,000 / Negotiated to $1,200,000 / 3 Offers
Sale Notes: This house had a few great qualities that made it a perfect investment. The sheer size of the house and lot (25.56 x 125.99) in this price range was attractive. Particularly impressive was the oversized concrete block garage large enough to fit 4 small cars. The neighbourhood is also quickly becoming one of Toronto’s hot spots with the gentrification of Geary Ave and future development of the Galleria Mall. A prudent purchase that is ahead of trend and also supplements the mortgage with rental income.
MLS Listing Description: Large Detached 3 Storey Investment Property On A 25 Foot Lot In Excellent Area. Updated Electrical Rewired W/ 3 Separate Meters, Newer Furnace And Hot Water Tank Owned. Basement Apartment Has Underpinned To 8 Feet Kitchen And Bath, Separate Entrance And Laundry Room Accessed By All Tenants. New Oversized Double Block Garage. New Windows. Great Potential.
Extras: 3 Fridges 3 Stoves, Coin Operated Washer And Dryer. Newer Gas Forced Air Furnace, 2 Garage Door Openers, 3 Separate Meters.
