Start placing your bids. This tiny Toronto house going for $1 million is expected to sell for even more, according to the realtor. The miniature house has made headlines for its high price tag, but the property's real estate agent has no doubts that it will be off the market in no time.
In a phone call with Narcity, realtor Chun Man Alan Ng of Envoy Capitol Realty Inc. said that the tiny property at 300 Euclid Ave. had been on the market for only a few days before it started getting noticed.
Situated on a 20 by 129-foot lot, the abode itself looks unspectacular at best from the outside and is dwarfed by the neighbouring, regular-sized houses.
On the inside, it is a renovated space painted white with black baseboards and light wood-coloured laminate floors.
Ng said that he wasn't aware of the actual square footage of the place because more people are interested in buying the lot than living in the house.
"Most people don't go and see the house," he said over the phone. Only "a handful [of prospective buyers] saw the inside."
The listing describes the property as a "great investment" with "loads of potential". Despite the unlikely look of it, this property is a hot commodity. Location is a huge plus.
The ad reads that the tiny place is "steps to vibrant shops, restaurants, bars, parks, schools, entertainment, public transit, & more."
"If you know real estate, you know it's not an expensive price," Ng reasoned. "I'm confident it will likely sell for more," he said.
According to Zolo Realty, house prices in the area are going for even higher, at an average of $1.5 million in Little Italy.
"Prospective buyers looking to purchase lots to use for other reasons are often interested in properties such as this one," said Ng.
In fact, listings such as this one have popped up in Toronto before.
This Toronto garage was being sold for $600,000, and the agent also noted that "it will be someone who does a little bit more property type development or a builder ...will probably come along and pick up this parcel of land."
Other bizarre Toronto listings have been houses priced for just $1.