Real Estate

How much should I pay for a 340sqft studio

  • Last Updated:
  • Feb 8th, 2020 7:04 am
[OP]
Member
May 22, 2019
363 posts
80 upvotes

How much should I pay for a 340sqft studio

My friend has a 340 sqft studio at 11 Wellesley, right across from Wellesley subway of Toronto.

His original purchase price for the pre -con unit is very low

How much should I pay for it now? It is closing or occupancy in May.
15 replies
Deal Fanatic
Feb 22, 2011
7250 posts
7661 upvotes
Toronto
Well a 0+1 at 57 St. Jospeh St just sold for $626,000 so you are looking at mid to high $500k.
[OP]
Member
May 22, 2019
363 posts
80 upvotes
what's the square footage for #2404 - 57 St Joseph St, Toronto ?
mazerbeaner wrote: Well a 0+1 at 57 St. Jospeh St just sold for $626,000 so you are looking at mid to high $500k.
Deal Addict
Jan 17, 2006
2041 posts
2095 upvotes
Toronto
I would not pay for assignment more than 450k for this one.
I just acquired 580 sqft 1+1 on assignment,
5 mins walk to dundas subway for 540k for comparison
[OP]
Member
May 22, 2019
363 posts
80 upvotes
ilim wrote: I would not pay for assignment more than 450k for this one.
I just acquired 580 sqft 1+1 on assignment,
5 mins walk to dundas subway for 540k for comparison
Original owner get a lot of appreciation in the past few years, many of them asked me to pay more than 200k for assignment at 200 Dundas street east. How can I get an assignment sale with little cash budget?
[OP]
Member
May 22, 2019
363 posts
80 upvotes
ilim wrote: I would not pay for assignment more than 450k for this one.
I just acquired 580 sqft 1+1 on assignment,
5 mins walk to dundas subway for 540k for comparison
Where did you find all those assignments deals? Any website?
Deal Addict
Jan 17, 2006
2041 posts
2095 upvotes
Toronto
ilovetoyota wrote: Where did you find all those assignments deals? Any website?
Kijiji and MLS is all I used for searching.
Heloc is one of the option if you don't have cash available.
You can refinance property later to cover that heloc.
Jr. Member
User avatar
Aug 11, 2019
161 posts
169 upvotes
Toronto
ilim wrote: I would not pay for assignment more than 450k for this one.
I just acquired 580 sqft 1+1 on assignment,
5 mins walk to dundas subway for 540k for comparison
I was wondering who bought the one at DSG and outbid me..(unit 2212?)
Full Time Realtor
GTA & Surrounding Areas
Deal Guru
Feb 29, 2008
12223 posts
7335 upvotes
ilim wrote: I would not pay for assignment more than 450k for this one.
I just acquired 580 sqft 1+1 on assignment,
5 mins walk to dundas subway for 540k for comparison
Is this Dundas Square Gardens? That was a very good buy when it came out. I think units were priced cheapest in the core. People making a fortune there. That IMO was can't miss opportunity. Condos priced <$200K and Bears were too busy crying about affordability and bubbles. Coulda made 2-300K right there.

Edit: A lot of sales in the last couple weeks there.
Deal Addict
Jan 17, 2006
2041 posts
2095 upvotes
Toronto
JayLove06 wrote: Is this Dundas Square Gardens? That was a very good buy when it came out. I think units were priced cheapest in the core. People making a fortune there. That IMO was can't miss opportunity. Condos priced <$200K and Bears were too busy crying about affordability and bubbles. Coulda made 2-300K right there.

Edit: A lot of sales in the last couple weeks there.
I got one in Max condos by Tribute.
Dundas square gardens had even cheaper options, but not as good developer and floor plan so I did chose Max instead after all.
Deal Addict
Jan 17, 2006
2041 posts
2095 upvotes
Toronto
Dayravi wrote: I was wondering who bought the one at DSG and outbid me..(unit 2212?)
Not me, I bought Max condos )
Deal Addict
Jan 9, 2010
1820 posts
1058 upvotes
It seems like the whole Church corridor is releasing a lot of new projects. With west of Yonge being so expensive it makes sense that developers are looking at East of Yonge. 88 Queen East is getting released soon, I wonder what the prices are going to look like.
Deal Addict
Jun 26, 2009
3641 posts
2464 upvotes
GTA
That's a really small garage. No way you can fit 2 cars on 340sqft. Maybe one car and motorcycle tops.

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