One-bedroom Junction condo draws three offers

812 Lansdowne Ave., No. 112, Toronto

Asking price: $419,000

Selling price: $470,000

Previous selling prices: $262,500 (2015); $225,905 (2014)

Taxes: $1,455 (2019)

Days on the market: Six

Listing agent: Paul Haley, Blue Elephant Realty Inc.; Co-op agent: Mary Jo Vradis, Re/Max Hallmark Realty Ltd.

The action

The unit is in a building completed roughly six years ago.Blue Elephant Realty Inc.

Instructed to find a property for less than $500,000, agent Mary Jo Vradis guided her client through two- to three-dozen contenders in central Toronto and west-end neighbourhoods. This one-bedroom unit was the standout in a building where the buyer’s friends reside, so they paid a $51,000 premium in November to own it.

“[It was a first-time buyer] who wanted to get into the market while [possible] because prices are getting out of reach for a lot of people,” Ms. Vradis said.

“[The sellers] under-listed it, so there were three offers."

What they got

The open-concept living space opens to a terrace.Blue Elephant Realty Inc.

In a building constructed roughly six years ago, this 585-square-foot suite is modern in design with an open concept living and dining area with sliding doors to a terrace, and a U-shaped kitchen with ceramic tile floors, granite countertops and stainless steel appliances.

Off to the side is a master bedroom, four-piece bathroom and laundry closet.

Monthly fees of $304 include the cost of water, heating, and use of common party and fitness facilities.

The agent’s take

“It’s a great spot for a first-time buyer and it’s a great investment long term too,” Ms. Vradis said.

“The difference with this unit is it’s on the ground floor where it has a terrace – versus the upper floors have balconies – so it’s a nice feature because you don’t deal with elevators. And it’s at the back of the building with privacy.”

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