SOLD - 12 Garnock Avenue - RIVERDALE, TORONTO

What is the story here?

In 2013, this was a 5 bedroom, 3 bathroom semi on a with 2 parking spots on a 19.25 x 101 foot lot at 12 Garnock Avenue in Riverdale. It looked like this…

It was listed at $699,000 and sold for $856,000.

It was then fully renovated to become a 4 bedroom, 4 bathroom house with a finished basement and was then back on the market in 2017 for $1,979,000. It sold for $1,925,000.

A little over a week ago, it was back on the market with what looked like no changes from the 2014 renovation and the asking price was $2,199,000.

Clearly, they were hoping for a bidding war because I don’t think that increase would even cover fees and taxes. And an annual compounded interest of 7% would make this an approximately $2,700,000 house so the asking price was low.

But what is the story with this bidding war? Or was there even a bidding war?

Because this house sold the day it was listed…

For $3,100,000.

photos via slideshowcloud.com