18 Stafford St., No. 310, Toronto
Asking price: $499,900 (March, 2021)
Selling price: $607,500 (March, 2021)
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 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
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.
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
“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.”
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.