SOLD - 21 Mackenzie Crescent - BEACONSFIELD VILLAGE, TORONTO
A few years ago, I posted this 4+1 bedroom, 3 bathroom house with 1 parking spot on a 20 x 100 foot lot at 21 Mackenzie Crescent in the Beaconsfield Village neighbourhood in Toronto.
The interior was a little dated but the house had a ton of potential.
It was listed at $1,800,000 and I thought that if they found someone who wanted to move in and live with it as is, maybe they would get that price.
After 2 price drops, it finally sold for $1,375,000. At that price, I assumed the person that ended up buying it would give it a complete redo.
That didn’t happen.
Instead, the wallpaper was taken down in all the rooms, the kitchen was redone though it looks more like they just painted the cabinets and redid the backsplash. And they removed the covering in the backyard.
Otherwise, the house is the same. The goth looking library is still there and so is the chandelier on the third floor…
In 2018, it was posted in Toronto Life as a rental for $4,800/month. A little over a week ago, it came back on the market for sale at $1,599,000.
At a 7% CAGR, the price now would be approximately $2,050,000.
It sold for $2,382,000 or a 9.5% annual compounded interest.
Can this be a $3 million house if it is completely renovated? Definitely.
P.S. Is it me or is there not one piece of furniture in this house that actually looks comfortable?
