1 Bloor St. E., No. 515, Toronto
Asking price: $2,098,000
Selling price: $1,928,000
Previous selling price: $1,650,000 (2019)
Taxes: $7,885 (2018)
Days on the market: 11
Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty
In August, agent Andrew Ipekian suggested this client purchase this two-bedroom-plus-den suite at One Bloor as an investment property, despite its messy and dark appearance while tenanted.
Shortly after a $5,000 makeover was complete, they put it back on the market and resold it for $1.928-million in late December.
“This was purchased for about $1,000 per square foot, which was relatively cheap for the building at 1,650 square feet, and it had two parking spots and a locker … so that’s why my client bought it sight unseen,” Mr. Ipekian said.
“All my client did was clean it, replace light bulbs and paint … [so] this was probably the best flip I have ever done for a client in such a short time.”
What they got
The three-year-old One Bloor building is one of the tallest in Toronto. This two-storey unit has 10-foot ceilings and a Cecconi Simone-designed kitchen with quartz countertops and stainless steel Sub-Zero and Wolf appliances.
Terraces span the length of the suite on both floors. There is one bedroom on the lower level and one above, which also has a walk-in closet and the largest of three bathrooms.
The agent’s take
“What was unique is it’s a two-storey unit with a good layout with one bedroom on the main floor, a full ensuite and powder room, and upstairs was an enormous den you could convert into two other bedrooms,” Mr. Ipekian said.
“And only a handful of units in the building have two terraces.”
In addition to water and heating, monthly fees of $1,315 also pay for use of indoor and outdoor pools. “It has some of the best amenities in Toronto,” Mr. Ipekian said.
“It also has direct access to the subway.”
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