24 Jan 2014
The big TCHC sell off: Beach Edition
Toronto Community Housing is back on the market.
Way way back many seasons ago, TCHC unloaded millions of dollars in assets in Toronto’s East End (mainly Leslieville). We haven’t seen to much TCHC activity since then until today when we noticed a cute house on MacLean Ave in a great part of the Beach! I haven’t been in to check the place out yet but the listing does clearly say that “it needs work”.
If it’s anything like the house they tried to sell on Dagmar with more visible mould than paint, it will be a tough but at $675K it could be a good opportunity to create your dream home in a fantastic school district. Renovators, flippers, etc.. don’t get too excited. This is a “you may lose your shirt” kind of property so beware if you’re a rookie.
About the Property:
This TCHC asset on MacLean Ave is a solid semi-detached home with a mutual driveway that does lead to a garage in the 
back. The drive won’t fit anything larger than a mid size sedan so if you’re rocking a gas guzzling hummer, move on.
It currently has 3 bedrooms and one bath up top all of which likely need some serious love. I could go on about the rest of the place but there’s no point. The entire house needs to be gutted. The basement is unfinished so at least there’s no demo to be done there. It would need to be waterproofed and dug out to make it liveable though. You’re looking at approximately $175-200K in renovations here. You could get away with less but for resale, Beach purchasers expect more than basic.
Want to come check this place out? Better call us now. The City is accepting offers in sealed enveloped any-time up to 4pm on February 4th.
