300 Euclid Avenue is a detached 2 bedroom, 1 bathroom bungalow, which at first glance appears to be a shed for the home next door. Though the lot itself offers 2,600 sq. ft. and houses a two-car garage, it's safe to say the house itself may not be, depending on what someone looking to invest a million bucks in real estate is looking for.
Indeed, the space is priced for its potential, not its current situation. If the funds are available and you’ve got the time on your hands, turning this place around could be a rewarding (read: profitable) project.
“Steps to vibrant shops, restaurants, bars, parks, schools, entertainment, public transit, and more,” the property is described as having “loads of potential” and being a “great investment.”
The interior, meanwhile, is a far cry from luxury but admittedly not completely awful — or at least, not much worse than the average Toronto apartment — though not many additional details are given about the home aside from the fact that it's in a great area.
What is currently home to an itty-bitty house with a squishy bathroom and barely-there backyard, could be hosting a multi-storey pad with a proper living room, several bedrooms, and a washroom with ample tooth-brushing space. Who needs to build out when you can build up?
This Grace Street spot, for example, is just around the corner from the Euclid home and is listed for $2,250,000; a pretty penny in the pocket of the seller. And just imagine, if this Leslieville loft-studio-situation can sell for over $1 million, what the value of a home closer to downtown that, presumably, will feature a kitchen that doesn’t double as a bedroom.
It may feel like a strange time to be making big financial moves. But with 25% of Ontario renters now more likely to buy a home, prospective buyers are going to want the cream of the crop when it comes to city spots. The sooner you take the plunge, the sooner you’ll be able to reap what you sow.
For those looking to carpe diem, here’s what you’d be starting with: