Rare studio goes for rock-bottom price

Published Thursday, May. 05, 2011

PARK LAWN AND QEW 185 LEGION RD., NO. 1910, TORONTO

ASKING PRICE $209,900

SELLING PRICE $200,000

TAXES $1,308 (2010)

DAYS ON THE MARKET 10

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

The Action: About 30 showings were lined up for this studio-plus-den suite in Etobicoke.

What They Got: About four years ago, this more than 500-square-foot suite was built on the upper floors of one of the newest high rises in the Mystic Pointe condominium community.

Along a wall of windows facing southeast towards the lake and downtown core, there is an eat-in kitchen with tile flooring and an open living area with laminate floors and sliding balcony doors.

Other essentials include a den by the entrance, a four-piece bathroom and laundry machines.

The monthly fee of $308 is relatively low as it covers the cost of utilities and care of recreational facilities, from a gym, outdoor pool and track to a party room and theatre.

The unit has one parking spot. However, public transit and waterfront parks and trails are easily accessible on foot.

The Agent’s Take: “Studios are a pretty hard sell in the city because of the lack of a bedroom, but the thing that made this unit so appealing was the fact it’s a studio with a den, which could be used as a bedroom,” agent Christopher Bibby says.

“The fact it went for $200,000 with parking is incredible.”

Benefits beyond the unit itself were also vital. “This is a more recent, up-to-date building with full amenities and 24-hour concierge,” Mr. Bibby says.