King West studio comes at an entry-level price

Published Thursday, Sep. 22, 2011

705 KING ST. W., NO. 1407, TORONTO

ASKING PRICE $219,000

SELLING PRICE $219,000

PREVIOUS SELLING PRICE $188,213 (2008); $119,000 (2002); $115,600 (2000); $104,900 (1990)

TAXES $1,163 (2010)

DAYS ON THE MARKET 21

LISTING AGENT Christopher Bibby, Sutton Group-Associates Realty Inc.

The Action: About 50 buyers prearranged for a private tour of this 550-square-foot studio in the Summit community in King West.

What They Got: This 14th-floor suite is a compact space with ceramic flooring in a galley-like kitchen with a breakfast bar, and laminate floors in the open living and dining area and solarium with windows overlooking the lake to the south.

Vital essentials include one bathroom, three appliances and facilities for laundry machines.

Utilities are not included in the monthly fee of $232, which is allocated for common amenities, such as a gym, pool, theatre, meeting room and business centre.

Several restaurants, bars, galleries and streetcars operate along King Street.

The Agent’s Take: “If you want to be in the neighbourhood at a lower price per square foot, this is basically one of your only options,” agent Christopher Bibby said.

“The building was a bit older, but with the décor, wallpaper and custom light fixtures, [the sellers] made it a lot more contemporary like everything else around the neighbourhood.”