If you've always wanted to invest in Toronto but your pockets aren't quite deep enough for a condo, this tiny portion of land on the Danforth could be your next big investment.
Last week, a strip of land barely big enough to house Stuart Little was listed for $49,999, and Toronto real estate agent Anthony De Cesare told Narcity it has already received two offers.
Anthony De Cesare
The 1060 Danforth Ave. property is less than a foot wide and sits at 0.75 x 105 feet. It is wedged between a pharmacy and a church.80u
De Cesare says he doesn't know what a person could do with the property other than hold onto it, wait for a developer or neighbouring business to snap it up or use it for advertising.
Anthony De Cesare
Despite the listed size of the property, De Cesare says he's been fielding dozens of calls from people asking if they could build a house, store their cars, or build on the slim lot due to confusion surrounding its size.
"I was getting 10 to 15 calls a day, all the same question, 'Can I build there? Can I build a house? Can I build a building?' One guy asked if he could store his RV there."
"I have to explain to everyone that it's less than one foot," he says. "I don't want to mislead anyone."
His client, Carlo Scarcello, a local deli owner, bought the property in 2013 at a City of Toronto auction for $5,000 and could have tripled his investment after receiving a $15,000 offer, however according to De Cesare, he is holding out for a better price.
De Cesare says Scarcello is looking to use the money to buy a new car, and while he is flexible on the price, he wasn't willing to sell the lot for $15,000 because that amount of money "won't change anything" for him.
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