1029 King St., W., No. 402, Toronto
Asking price: $688,000 (February, 2022)
Previous asking price: $795,000 (November, 2021); $805,000 (October, 2021); $749,900 (Late September, 2021); $789,900 (September, 2021) *Under different brokerages
Selling price: $920,000 (March, 2022)
Previous selling price: $365,000 (May, 2014); $335,000 (October, 2009); $181,757 (September, 2002)
Taxes: $2,560 (2021)
Days on the market: Seven
Listing agents: Ken and Jaime Ramsay, Harvey Kalles Real Estate Ltd.
This one-bedroom-plus-den suite at the Electra Lofts building was listed by two agents last year but neither got offers despite changing the asking price four time, ranging from $749,900 to $805,000. In February this year a third set of agents were brought in – Ken and Jaime Ramsay – who recommended several changes to sell the property, starting with a lower asking price of $688,000.
We felt “it would open it up to a larger pool of potential purchasers and encourage more offers,” Mr. Ramsay said, “which it did.”
He also credits a minor makeover as another reason the unit received six offers. “When the seller had previously listed, the agents didn’t do any prep or staging. But we had the seller move all of her belongings out, painted the entire loft, changed the lights and brought in all of [our] furniture and accessories,” Mr. Ramsay said.
“The total prep cost to the homeowner was under $2,000 and we sold for $125,000 more than her previous listing only 68 days earlier.”
What they got
As with all the units in the roughly 20-year-old building, this condo has two-storeys. It faces south and has 16-foot ceilings in the living room. There is also a private balcony.
The upper level has an open den and a bedroom with a walk-in closet and a bathroom with laundry facilities.
The unit comes with a storage locker and parking. Monthly fees of $561 cover all utility costs.
The agent’s take
“With most one-bedroom condos in other buildings being much smaller, this 820-square-foot loft felt open and airy,” Mr. Ramsay said.
“It has huge floor-to-ceiling windows that face south, and although it’s on the train corridor, there’s no building to block the sun, so you have an incredible amount of sunshine.”
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