Royal LePage Real Estate Services Ltd.
78 Warren Rd., No. 605, Toronto
Asking price: $419,500
Selling price: $410,000
Taxes: not available
Days on the market: 31
Listing and co-op agents: Dino Capocci and Lauretta Stewart, Royal LePage Real Estate Services Ltd.
The action
Last year, this co-ownership unit had a few offers fall apart at financing as buyers had to forgo traditional banks and deal with small credit unions demanding 30 per cent for a down payment.
To reel in a fresh batch of suitors, the $429,500 price was dropped by $10,000 in November. Marketing efforts eventually reached an out-of-town buyer who closed a deal in early December.
“It’s a beautiful unit for the price in the Casa Loma location, but the challenge is it’s more difficult to finance co-ownerships,” said agent Dino Capocci.
“You have to have more down [payment] and it eliminates a lot of buyers.”
What they got
The unit is in a building just off St. Clair Avenue.Royal LePage Real Estate Services Ltd.
This 656-square-foot suite contains one bedroom and an open living and dining area with updated kitchen facilities.
Monthly fees of $654 include water and heating costs, as well as property taxes.
The agent’s take
“You’re on a street with multimillion-dollar houses and you’re steps to St. Clair [Avenue] with the streetcar right there, and you’re very close to Avenue [Road],” Mr. Capocci said.
“About two years ago, the owner did nice renovations – redid the floors and the kitchen – and put in new appliances and a brand-new bathroom with subway tiles.”
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