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done deal

Re/Max Absolute Walker Realty

255 Argyle Ave., No. 105, Ottawa

Asking price: $489,900

Selling price: $503,000

Previous selling price: $410,000 (2018)

Days on market: 2

Taxes: $4,310 (2019)

Monthly maintenace fee: $533.28

Listing agent: Geoff Walker, Re/Max Absolute Walker Realty

The action

The unit is in the low-rise Studio Argyle building in Centretown.Re/Max Absolute Walker Realty

Although this condo sits in Ottawa’s Centretown neighbourhood, it has a very non-Ottawa feel to it: think a more hip, bigger-city vibe. No surprise that the sellers were from Toronto and left Ottawa for a job in France. The unique look and feel of the unit, combined with the city’s sizzling real estate market, saw it fetch $13,100 over asking after just two days on the market. There were seven appointments booked, and two out of the first three people who saw the unit bid on it, according to listing agent Geoff Walker.

“It created a multiple-offer scenario very quickly,” he says.

The agent’s take

High ceilings and exposed duct work give the unit an industrial feel.Re/Max Absolute Walker Realty

Mr. Walker says this unit was the first one-bedroom in the low-rise Studio Argyle building to sell for more than a half a million dollars. He says he had “an outside goal” of hitting that price point, but he knew, at $489,900 it was already priced at the higher end of the market.

“The demand is there and it’s a boutique building with a lower unit count and in a great location, so it worked,” he says.

The owners, Mr. Walker says, removed all their contents and invested nearly $4,000 in staging, which helped the process. The purchasers were a couple from Ottawa who were adding it as an investment property but could possibility live it in down the road.

What they got

Large windows bring in plenty of light.Re/Max Absolute Walker Realty

The loft condo is a 15-minute walk to Parliament Hill. It’s a one-bedroom plus den and features granite countertops and a gas range in the kitchen that overlooks the open concept living and dining room. It boasts an industrial feel with high ceilings, exposed concrete and duct work and large windows.

“There was creativity and thoughtfulness put into a unique product,” Mr. Walker says. “There are things not as common [in this unit] like in multiple buildings throughout the city.”

The unit includes a parking spot and a storage locker, and has easy access to Ottawa’s transit system, bike paths and 400-series highway.

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