Done Deal, 15-21 Glenfern Ave., No. 11, Toronto
15-21 GLENFERN AVE., No. 11
ASKING PRICE $419,900
SELLING PRICE $503,000
TAXES Not available
DAYS ON THE MARKET Five
LISTING AGENTS Dianne Chaput, Colette Chaput-Villamizar and Brian Chaput, Royal LePage Estate Realty
The Action: Just east of Balmy Beach Park, at the end of the beach boardwalk, is a historic co-op residence in which vacancies emerge about once a year. The seller of this one-bedroom suite resided there for roughly 30 years, so it only took days to fetch a substantial half-million-dollar proposal from one of four bidders late last year.
What They Got: Set right on the beach, this Craftsman-style residence built in 1928 once provided summer lodging for Eaton's employees, but is now a permanent home to 20 co-op units.
All but two suites in the low-rise building offer one-bedroom plans, such as this 691-square-foot suite with south-facing views of the lake from the master bedroom and brick-lined sunroom.
At the unit's centre is an open living and dining area with wood trims and hardwood floors. Closer to the foyer is an office, eat-in kitchen with tile floors and sole four-piece bathroom.
Monthly fees of $813 cover water and maintenance of a laundry room and gated garden.
The Agent's Take: "There are a few [co-ops] in the east end … but this one is probably the most historical and oldest. It's really beautiful with wainscoting throughout and light fixtures that are all original. It's like a blast from the past," agent Brian Chaput says.
"[Plus] the grounds on the property are meticulously kept with private access to the beach."
While some buyers were unaware of differences between a co-op and conventional condo – such as a 30-per-cent down payment for the former – this unit's desirability was undisputed.
"It was very original when you walk in, so we had to paint and stage it, but as soon as you see the windows, you're sucked into it, you're like 20 feet away from the water's edge," Mr. Chaput notes. "You get a million-dollar view at half the price."