The first clue was the lack of photos in the listing. And when they saw the condo in person, the reason was obvious. Could they see past what confronted them? Badly stained carpeting, duct tape on tub tiles and an overall dinginess greeted prospective purchasers Joe Siegfried and Brad Dougherty.

“Why are we here?” a dubious Dougherty asked his husband as they entered the two-bedroom unit where nothing had been touched in its 40 years. But the couple had stumbled across a rare gem in downtown Toronto: the $640,000-, third-floor corner suite offered a huge living space of 1,400 square feet. “We didn’t want to live in a shoebox,” Dougherty says of the deciding factor as they downsized from the Mississauga backsplit where they’d lived for 15 years.

Siegfried instantly saw the eyesore’s potential. “This is gonna be fun!” he exclaimed pre-reno last December. At the same time, “we were terrified of finding surprises,” Dougherty recalls.

There were a few. Too-small pipes weren’t to code, floors weren’t level and the concrete-encased electrical conduit wasn’t accessible. On the bright side, “no bugs, no mould,” Siegfried observed in documenting the project.

The electrical problem was resolved by dropping the ceiling three inches to accommodate new wiring for overhead lighting (none existed), more outlets and smart blinds. Two days before move-in, they dodged a near-disaster when human error and a missing shut-off valve unleashed a flood in the primary e.