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Re/Max Hallmark Pierre Carapetian Group Realty

665 Kingston Rd., No. 404, Toronto

Asking price: $499,000

Selling price: $570,000

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Taxes: $2,031 (2019)

Days on the market: Seven

Listing agent: Pierre Carapetian, Re/Max Hallmark Pierre Carapetian Group Realty

The action

The Southwood building was completed in 2018.

Re/Max Hallmark Pierre Carapetian Group Realty

There has been very little resale activity in the six-storey Southwood building since its completion in 2018, so it was perhaps unsurprising that this one-bedroom-plus-den suite racked up eight bids late this January.

“Under $500,000 is a very hot price point … and in demand, so I was expecting to get a lot of activity,” agent Pierre Carapetian said.

“[Plus], there hadn’t been a sale in the building for quite some time.”

What they got

The bedroom features a walk-in closet.

Re/Max Hallmark Pierre Carapetian Group Realty

With nine-foot ceilings and full height windows, this roughly 600-square-foot unit appears larger than it is.

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The open living and dining area has the balcony at one end, while the compact kitchen has quartz countertops and stainless steel appliances, including a gas stove. The bedroom has a walk-in closet and the unit comes with a storage locker.

Monthly fees of $367 cover upkeep of guest and party rooms. A popular natural-food market, the Big Carrot, is located at street level.

The agent’s take

The unit is in the up-and-coming Upper Beaches neighbourhood.

Re/Max Hallmark Pierre Carapetian Group Realty

“It’s a small boutique building, which clients tend to favour, and there are not a lot of new buildings in the Upper Beaches,” said Mr. Carapetian, whose clients paid about $388,000 for the unit preconstruction in 2017.

“They held it for just over two years and made significant returns in that time – 47-per-cent equity gains – by purchasing in an up-and-coming neighbourhood.”

The unit’s flexible footprint was also admired. “It had a great layout just under 600 square feet, and it was a large one-bedroom with a den, which could be a second bedroom,” Mr. Carapetian said.

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For sale in this area

View similar listings below. Clicking on the map will take you to the listings below.

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Architecturally Designed, This 3Bedrm Detached Is Ideally Situated In Toronto's Desirable Upper Beach Neighbourhood. Spacious, Airy & Bright, The Main Lvl Features Hrdwod Flrs & Pot Lights. Liv Rm Has Wood Burning Fp, & The Fam Sunrm W/O To A Beautiful Landsc'd Back/Front Garden. Treetop Views Frm 3 Rear W/Outs. Lower Lvl Jacuzzi/Sauna Spa. There Is A Single Car Garage + Parking Pad At Rear. Close To Amenities! Walk To Go Train, Ttc, Parks, Schools, & Beach!**** EXTRAS **** Pls See Attached Schedule B For A Full List Of Inclusions/Exclusions. (id:31729)
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Open this photo in gallery: Gallery photo 1
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