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This is what a 1 million house looks like in Toronto

Globe and Mail reports Greektown Bungalow billed as renovation or teardown project sold over asking

It's not much to look at. A tired-looking grey brick exterior, an uninviting parking pad and it's dwarfed by bigger homes on either side.

But it doesn't matter.

The 104-year-old home at 69 Muriel Ave near Danforth Ave and Pape Ave sold well over its asking price. The Globe and Mail reports the bungalow listed at $679,900 sold last week for more than a $1 million.

Royal LePage trumpeted the property as a "chance to build a fabulous new home", appealing to "builders, contractors, renovators and envisioners".

The Globe says the departing owners bought the home and its 20 ft by 78 ft lot in 1966 for $10,000--$73, 000 adjusted for inflation.

The Toronto Real Estate Board reports the average cost of a detached home in Toronto was $1.34 million in January.