If you鈥檙e looking for a home capable of housing a basketball court in the basement, garage space for 16 cars, and property protected by about 100 derelict vehicles, this dilapidated Toronto mansion may be right for you.
The $3.8-million asking price for 4 Birchmount Rd. has been widely scoffed at online, mainly due to , as well as evidence of animal tenants.
But Royal LePage realtor Normand Gautreau disagrees with the house鈥檚 many detractors. He said he has personally done a walk-through, and has clients interested in buying.
鈥淚n 32 years of selling in Toronto, I鈥檝e never seen anything like it,鈥� he told 麻豆传媒 Channel. 鈥淭here is not another one (like this) coming. It鈥檚 such a unique opportunity.鈥�
Video of the home shows a ransacked interior with a peeling ceiling, broken cabinetry, as well as mould and water damage.
The property overlooks Lake Ontario and the picturesque Scarborough Bluffs. , the 12,000 square-foot home has a 180-degree view overlooking the water.
Gautreau said the original mansion was demolished and replaced by a dream home project that was not completed because the owner ran out of money. The listing indicates that the sale is court ordered.
鈥淗e wanted a basketball court in the basement. It鈥檚 huge,鈥� he said. 鈥淵ou can only have a double garage in that location. He put two doors, but the building is big enough for 16 cars.鈥�
Gautreau said the original owner also had a unique solution to prevent the beach from eroding.
鈥淚n the 50s, the previous owner, he used to put derelict cars down at the bottom so he could stop the erosion,鈥� he said. 鈥淭here has got to be 100 cars.鈥�
The house hit the market at an awkward time for high-end real estate in Canada鈥檚 largest city. points to a slump in luxury home sales.
The Greater Toronto Area (GTA) saw the number of upscale detached houses sold in the first quarter of 2018 drop to 90 transactions, down 68 per cent compared to the 281 sales in the same period last year, Royal LePage said. To qualify as a luxury detached property under Royal LePage鈥檚 formula, the minimum amount is $3,046,206 in the GTA.
Gautreau said a savvy investor could get a tempting return if they were willing to put about $2 million into 4 Birchmount Rd. after they buy the home at its currently listed price.
鈥淵ou are still going to have a $10 million property,鈥� he said. 鈥淨uite frankly, the price is fantastic. To have it on the lake, overlooking Lake Ontario and the bluffs. It鈥檚 really a private setting and a big piece of property.鈥�
