650 Sheppard Ave., E., No. 506, Toronto
650 SHEPPARD AVE. E., No. 506, TORONTO
ASKING PRICE $329,900
SELLING PRICE $355,000
PREVIOUS SELLING PRICE $286,980 (2009)
TAXES $2,504 (2016)
DAYS ON THE MARKET Eight
LISTING AGENT Geoffrey Korn, Forest Hill Real Estate Inc.
The Action: Down the street from Bayview Village mall and Bayview subway station, this one-bedroom-plus-den suite at St. Gabriel Terraces accommodated more than two dozen prospective buyers earlier this year. Nine made offers, and a bid $25,100 over asking came out on top.
"It's indicative of the current market we're in, but it is hit-or-miss. I had another unit in this building in June and it had one offer in three or four days," agent Geoffey Korn says. "To be at the subway line and near shopping, the price point drove the market at this time. There are a lot of people that can't get into the market."
What They Got: This fifth-floor suite is on the north side of the mid-rise building and has expansive windows. The balcony opens off an open living and dining area laid with hardwood flooring.
Set further back is a den and a U-shaped kitchen outfitted with stainless-steel appliances and granite floors and counters. There's also a four-piece bathroom and laundry facilities. Parking comes included, as well as a storage locker. Monthly fees of $549 cover water and heating, 24-hour concierge, a gym and rooftop garden.
The Agent's Take: "It's a well-built and well-run building," Mr. Korn notes. "Every unit has the same finishes, so there was nothing added to this unit."
This unit in Toronto's Beaches neighbourhood is close to the edge of Lake Ontario. After five days on the market it sold for $503,00.