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Re/Max Hallmark Pierre Carapetian Group

18 Stafford St., No. 310, Toronto

Asking price: $499,900 (March, 2021)

Selling price: $607,500 (March, 2021)

Story continues below advertisement

Previous selling price: $469,000 (April, 2018); $255,500 (April, 2008); $124,895 (May, 2004)

Taxes: $1,835 (2020)

Days on the market: Five

Listing agents: Rebecca Colwill and Pierre Carapetian, Re/Max Hallmark Pierre Carapetian Group Realty

The action

The nearly 600-square-foot unit has an open living and dining area.

Re/Max Hallmark Pierre Carapetian Group

The owner of this one-bedroom suite outgrew the space during the pandemic, but spent months deliberating whether to rent it out or sell it. With rental rates on the decline and resale inventory static, the decision was made to sell. About 40 potential buyers took tours and some early bids were rejected to give time for all offers to be considered. On the offer date, the best of six contending submissions was accepted.

“There hadn’t been a unit come up in that building for a couple months, so we sold at the perfect time on the market before the lockdown,” said agent Rebecca Colwill. “We got really lucky.”

What they got

The U-shaped kitchen has full-sized appliances.

Re/Max Hallmark Pierre Carapetian Group

Typical of many suites in the mid-rise Wellington Square building, this nearly 600-square-foot unit has an open living and dining area with a U-shaped kitchen at one end and a west-facing balcony at the other. The unit has laundry facilities, a semi-ensuite bathroom and a bedroom with a walk-in closet.

Story continues below advertisement

The unit also comes with a storage locker. Monthly fees are $341 for water and heating, plus use of a gym and rooftop terrace.

The agent’s take

The unit's west-facing balcony.

Re/Max Hallmark Pierre Carapetian Group

“It’s big for a one-bedroom downtown because the building is a little bit older, which means the kitchen has full-sized appliances and an overall more appealing layout as opposed to some of the newer builds,” said Ms. Colwill.

“It’s in King West, but it’s away from the noise of King West. It’s also close to Stanley Park, which is a huge park where a lot of people are spending their time due to COVID, and it’s close to the water and highway access.”

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