Urban Townhouse behind Annex mansions sells

The action

This two-bedroom unit is part of a block of one- to three-storey townhouses built behind two converted mansions with heritage designations. But listed for two months last year, it failed to get any purchase offers.

“It’s set in the Annex, where the majority of the homes are significantly larger mansions, rooming houses, duplexes and triplexes,” said agent Christopher Bibby. “This townhouse complex really stands out.

“The last time something identical to this unit came on was about three years ago.”

Certain there was nothing wrong with the unit, nor its $899,900 price tag, Mr. Bibby brought it back to the market in January. In short order, it received two offers and sold for $31,900 under asking. The sale came soon after Mr. Bibby sold two other listings downtown.

“In a span of a week, everything started to sell,” Mr. Bibby said.

“The fact we had two people bidding at the same time was a sign of how little supply there was out, and how unique this was.”

What they got

This lower-level unit has 1,030 square feet of living space with a front patio and a multitiered backyard.

There is a central living room with a gas fireplace, a dining area and a kitchen with stainless-steel appliances.

The largest bedroom contains one of the home’s two four-piece bathrooms.

The unit includes a storage locker and parking. Monthly condominium fees are $929.

The agent’s take

“What really stood out for people was the fact the square footage was on one floor, because when you throw in a staircase, it eats up a lot of square footage,” Mr. Bibby said.

“It does feels like you’re in a tranquil and picturesque part of the city. But then you walk south, you’re on Bloor with easy access to so many things, like the University [of Toronto] and all the shops.”