Sold: Vacant Lot in Oakwood Goes for Nearly $2 Million in Just 2 Days

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We’re in the height of Lockdown Number Two here in Toronto, and perhaps the desire to take on a creative project is what drove one buyer to snatch up a recently-listed vacant lot near St. Clair West at lightning speed.

In just two days, 62 Earlsdale Avenue was off the market for $1,955,000; that’s more than $300,000 over the property’s list price of $1,600,000.

Described as a “great opportunity for investors/builders/developers,” the property is called a “double lot,” but only in terms of its 45.50 x 142.31-foot size. Instead of its space spanning width-wise — across what could be two homefronts — the square-footage stretches lengthwise, deep into the lot.

This brings our imagination to other abodes in Toronto that are significantly taller than they are wide (…and we’re not talking about super-tall condos). And it’s with consideration of those other properties the price this vacant lot sold for must be emphasized.

This Trinity Bellwoods beauty, for example — in a prime location and complete with a sleek, modern interior — is a fully-finished, move-in ready home. It hit the market asking $1,785,000 and ended up selling for under asking, going for $1,775,000. Meanwhile, one of the city’s slimmest homes in east Chinatown has been on the market for 50 days, priced at $1,899,000. Here is another example of a spot that’s standing tall in a great neighbourhood, completely ready to embrace new owners, but hasn’t been snagged after nearly two months on the market.

Yet, something about 62 Earlsdale — be it the neighbourhood, the lot size, or the pure potential of one’s dream home being crafted at the vacant address — made the property worth nearly $2 million to its recent buyer, house-less as it is.

READ: Listed: East End Abode Complete with Outdoor Fireplace Asks $1.75M

Location-wise, however, we must give this property credit: steps from the bustling St. Clair West strip, anyone living in this area of the city has easy access to mouthwatering restaurants, fresh-baked goods, parks, and transit, all within a short walking distance.

Perhaps, though, it’s this address’s proximity to any carb-lover’s dream — Primrose Bagel — that saw the listing decidedly worth nearly double the asking price of a very similar (albeit smaller) vacant lot in the Dufferin Grove neighbourhood. This Dufferin property is yet another listing that’s lasted more than 50 days on the market, while its price tag reads $1 million.

Specs:

  • Address: 62 Earlsdale Avenue
  • Type: Detached
  • Style: 2-storey
  • Size: 1,500 – 2,000 sq. ft.
  • Lot size: 45.50 x 142.31 Feet
  • Went for: $1,955,000
  • Taxes: $5,259 /yr

In fact, if you’re jealous of the buyer at 62 Earlsdale, and you wish you could’ve snagged the empty space with your own couple million, perhaps the Dufferin Grove property is the one for you.

It may not have Primrose Bagel at the end of its street, but The Mall With It All is a fair substitute, no?

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