This tiny Toronto lot only costs $50,000

If you feel like you’re all but entirely priced out of Toronto’s competitive real estate market, this one is for you — well, maybe.

In a city where parking spots typically sell for well over $100,000, a very small plot of property that’s just one foot wide has been listed for just $50,000. The literal sliver of land jammed between a Church and a pharmacy is located at 1060 Danforth Avenue near several stores and the Donlands TTC station.

And here’s a fun fact — taxes are just $70 a year.

Before you get ahead of yourself, the land is actually much smaller than the picture above would indicate. According to blogTO’s reporting, the fenced portion of grass is actually owned by a nearby church and the lot itself is literally just 0.72 feet by 105 feet.

Its previous owner apparently bought the land as a way to get into the real estate market and grew sunflowers on it. It’s possible someone could purchase this plot with the goal of eventually buying the church or pharmacy on either side in order to — you guessed it — build condos.

At this point, you’re likely wondering why this sliver of land even exists. Well, according to The Globe and Mail, its owner, who received the land through a will, sold it to a friend for $2, but they fell behind on property tax. It was then auctioned off for $5,065 to its current owner.

With all of this in mind, if you have the cash and you’re willing to sit on the property for a few years, this literal sliver of Toronto real estate could be a worthwhile investment.

Image credit: BlogTO (Google Maps Screenshot)

Source: Realtor.ca Via: blogTO 

 

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