King West investor condo draws full-price offer

PUBLISHED SUNDAY, APRIL 25, 2021

650 King St. W., No. 506, Toronto

Asking price: $985,000 (March, 2021)

Selling price: $985,000 (March, 2021)

Previous selling price: $452,286 (November, 2012)

Taxes: $3,304 (2020)

Days on the market: One

Listing agent: Christopher Bibby, Re/Max Hallmark Bibby Group Realty

The action

This two-bedroom corner suite at the Six50 King West building was occupied by tenants, but once they moved out, it was prepared for sale, complete with professional staging. Six showings were coordinated for the first day, and hours later, the seller pocketed a full price and condition-free offer of $985,000.

“Early in the year, we saw signs of recovery,” agent Christopher Bibby said.

“A unit directly below went for sale at a price that was quite noteworthy and it went in a matter of days, but we knew we had a superior unit because it had been modified through the builder.”

What they got

Prior to construction, this northeast corner suite had its standard features and floor plan modified by the owner and architect. For instance, they had the builder – Freed Developments – combine a powder room and second walk-in closet to create a larger second bathroom.

The unit has hardwood floors, stainless steel kitchen appliances and walls of windows and sliding doors to the bedrooms and balcony.

The unit also comes with laundry machines, a storage locker and parking.

Monthly fees of $520 pay for water, heating, concierge and use of the fitness facilities.

The agent’s take

“Instead of having a two-piece, they had a three-piece bathroom, which is quite desirable, and there were a few other builder upgrades our clients did that enhanced the space,” Mr. Bibby said.

“The balcony on the east side has some nice views of the city and CN Tower, which also gave us an advantage over other suites in the area as well.”