255 Richmond St., E., No. 1211, Toronto
Asking price: $398,000 (July, 2021)
Selling price: $398,000 (August, 2021)
Previous selling price: $92,745 (October, 2004)
Taxes: $1,283 (2021)
Days on the market: 12
Listing agents: Mary Jo Vradis and Stefan Scott, Re/Max Hallmark Realty Ltd. (now with Rare Real Estate Inc.)
This 365-square-foot bachelor suite may be tiny, but the 12-storey building has location in its favour, with university and college campuses within easy walking distance and streetcar, subway and trendy bars and bistros nearby. It could serve as a downtown pied-à-terre or as a rental unit. The seller received two offers.
“Toronto doesn’t really have condos in the $400,000s, so anything that comes out in that price range is going to be busy,” agent Mary Jo Vradis said.
“This was a good opportunity as an investment or an opportunity for people to put their kid somewhere while they’re going to school.”
What they got
The unit was built in 2004, and has all the basics, including a galley kitchen, an open living area with access to a small balcony, plus bathroom and laundry facilities.
Monthly fees of $268 cover the cost of utilities, security, and a common gym.
The agent’s take
“It’s one of the smallest units,” Ms. Vradis said.
“It’s not a big building, so that was attractive, and the location is close to George Brown [College] and St. Lawrence Market, so it’s a really walkable area.”
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.