Compact condo offers Yorkville address for $605,000

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8 Scollard St., No. 1111, Toronto

Asking price: $599,900

Selling price: $605,000

Previous selling price: $308,000 (2009); $237,224 (2008)

Taxes: $2,525 (2020)

Days on the market: Two

Listing agent: Mary Jo Vradis, Re/Max Hallmark Realty Ltd.

The action

Once the tenant moved out of this one-bedroom plus den suite at the Lotus building, it was painted and staged. The $599,900 price set it apart from the many multimillion-dollar units nearby. Fifteen parties requested personal tours over two days in late June.

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“In Yorkville, there wasn’t much for sale, especially in that price point,” agent Mary Jo Vradis said.

“[The eventual buyers] were actually prepared to buy it sight unseen and were coming in at full price. But we said ‘We have so many people interested, if you give us something better than full price, then we’ll take it’ – and they did.”

What they got

In the high-rise building next to Frank Stollery Parkette, this 630-square-foot unit has a modern design with a den off the foyer, a central U-shaped kitchen, and an open living room with sliding balcony doors.

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The unit is also equipped with stainless steel appliances and laundry facilities. A storage locker is included.

Monthly fees of $505 cover water, 24-hour concierge and use of the gym and party room.

The agent’s take

“It’s a great investment or for someone who wants to get into the area because it’s in a prime location right in Yorkville and walkable to everything,” Ms. Vradis said.

“In the building, one unit sold last year for $1.7-million, so prices can go pretty high, and that was for a two-bedroom.”

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