Real Estate

1 Bedroom downtown under 400k

  • Last Updated:
  • Nov 1st, 2020 10:06 pm
[OP]
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Dec 13, 2016
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1 Bedroom downtown under 400k

Sure it's on the second floor with unobstructed view of Gardiner's bridge, but at 392,000 and $244 in maintenance fees you can't go wrong.

Listing C4902872
21 replies
Deal Addict
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Apr 12, 2013
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Moon
I saw a few of these but i think they're bait for bidding wars.
Koodo, Public Mobile, Lucky Mobile Customer
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Nov 5, 2018
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Your post got me thinking. So I looked at downtown condos from low prices to high...what REALLY shocked me is how high the maintenance fees are for many of these studio units. Over a dollar a foot in many cases. Yikes!
Called the bottom.
Deal Addict
Oct 27, 2012
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Toronto
kangarooz wrote: I saw a few of these but i think they're bait for bidding wars.
It sold at $392K. Original asking was $512K!
Deal Addict
Jan 15, 2010
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Sure this has dropped in price but I don't even know how to evaluate what this was worth in the before times. I don't think it ever would have sold over 500. It's a bad layout, plus the low floor issues as you noted. Also in Cityplace.
Sr. Member
Jan 28, 2017
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Its a junior 1 bedroom at best..glorified studio
Jr. Member
Aug 18, 2015
109 posts
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Toronto, ON
~400 sq ft it seems, lower floor, bad view, still sold for roughly 1000 psf
Deal Addict
Jan 15, 2010
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BiegeToyota wrote: 412k
It was originally listed at 512, then lowered to 418, and sold for 392. Unit is 456 SF, so it sold for $860 PSF, which seems fair.
[OP]
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Dec 13, 2016
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DaMan12 wrote: It was originally listed at 512, then lowered to 418, and sold for 392. Unit is 456 SF, so it sold for $860 PSF, which seems fair.
Damn
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Apr 12, 2013
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Moon
ozzie16 wrote: It sold at $392K. Original asking was $512K!
DaMan12 wrote: It was originally listed at 512, then lowered to 418, and sold for 392. Unit is 456 SF, so it sold for $860 PSF, which seems fair.
You guys got the link? a few different listings from different sites with different prices lol. So if this is indeed a studio/1bedroom it should be even more surprising since they should be highest psf. At least this was pre covid.
Koodo, Public Mobile, Lucky Mobile Customer
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Jan 15, 2010
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kangarooz wrote: You guys got the link? a few different listings from different sites with different prices lol. So if this is indeed a studio/1bedroom it should be even more surprising since they should be highest psf. At least this was pre covid.
https://housesigma.com/web/en/house/GMn ... o-C4902872
https://condos.ca/toronto/panorama-38-d ... 3-C4902872
Member
Jun 15, 2015
426 posts
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Thornhill, ON
At $392K for 456sf I would call this a great deal for a young single individual who wants a place for him/herself. Congrats to the buyer.
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Apr 12, 2013
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Moon
under the DVP so it should be noisy but like others said this is a good deal.
Koodo, Public Mobile, Lucky Mobile Customer
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Here's another unit that sold for around 400K - bigger and decent layout for the size.

https://housesigma.com/web/en/house/amg ... 9-C4951176

Yes, a bit farther out, but the area is quite alright.

What's notable is that it was listed for $510K back in September. The investor that bought it in March 2017 paid $409K for it, rented it out at $1,600/month that year, and then $1,775/month from mid-2018 onwards.
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Apr 12, 2013
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Moon
ozzie16 wrote: Here's another unit that sold for around 400K - bigger and decent layout for the size.

https://housesigma.com/web/en/house/amg ... 9-C4951176

Yes, a bit farther out, but the area is quite alright.

What's notable is that it was listed for $510K back in September. The investor that bought it in March 2017 paid $409K for it, rented it out at $1,600/month that year, and then $1,775/month from mid-2018 onwards.
Yeah Corktown is alot further out than cityplace. When the ontario line opens the value should go up though! I am not sure that is even considered to be a 1 bed. Probably a jr 1 bedroom?
Koodo, Public Mobile, Lucky Mobile Customer
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Jul 1, 2020
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Damn, I got really excited opening this thread to see that it is a condo in my building with the exact same layout as the condo I have. Good thing is my unit is slightly larger - 500 ft.²-and is five floors higher as well.

Not good however, there were units with similar layouts to my own sewing on my floor for nearly $500,000. Oh well, I just leased out my unit to a new tenant so I’m not complaining. Still cash flow positive despite the significant reduction in rent. I’m going to hold until prices recover, this condo was a long-term game for me anyways.
Member
Jun 15, 2015
426 posts
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Thornhill, ON
Any 1 or 1+1 bdrm unit DT for $850 per sf or less is worth checking out.
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Sep 12, 2017
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When is this ontario line going to be completed?

I work in Aurora, Ontario, sometimes only commute to Markham or thornhill. Hiw bad is the traffic from corckyown to Aurora? It basically be straight up the 404 all the way to Wellington in Aurora.

How much did condo prices drop cause of covid? Are you guys seeing prices recovering in the future?

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