61 Cluny Drive - ROSEDALE
This is a 9 bedroom, 5 bathroom house on a 71 x 128 foot lot with a double garage and a drive for up to 6 cars at 61 Cluny Drive.
According to the listing, it is the first time the house has been available in 50+ years and you can kind of tell from the interior. It needs some updating. A lot of updating.
But with a lot of work and money (like several millions dollars to do it right kind of money), it could be AMAZING.
It was initially listed in September for $4,900,000.
So, is this a $7,500,000 house when it is done?
Well, the house is really big with 5700 square feet above ground and 2242 in the basement.
Here are the floors plans....
An addition could be added at the back where the kitchen is to create a family room with a better flow to the dining room. Then the family room at the front could be an amazing office.
Upstairs, the master could go above the kitchen/family room addition and there is lots of room on the third floor for one or 2 large bathrooms and perhaps one less bedroom.
And this house is steps to Yonge street.
So, basically, it is a great opportunity.
But when the house on an arguably better street at 70 Chestnut Park Road...
That was on a slightly smaller lot but needed just as much work sold for $3,302,000 in January 2013...
Then almost $5 million for this is a little high.
Which is why it had a price drop a couple of weeks ago to $4,695,000.
So, is this the right price?
Well, if the house at 34 Chestnut Park Road that was recently gutted sold for $3,500,000 2011 only to be listed 6 months later for $4,500,000...
Then maybe this is the right price.
I am just not sure this is a $7,500,000+ house when it is done. Then again, it could be.
But I'm thinking it will sell closer to $4.5.
Whatever it does sell for, just don't let it sell to the people behind the flip at 166 Crescent Road!!!