Richmond and Bay

Written by Sydnia Yu | Published in The Globe and Mail
In the Press
May 15, 2010

Published Thursday, Apr. 29 2010

73 Richmond St. W., No. 403, Toronto

Asking price: $224,900

Selling price: $220,000

Taxes: $1,654 (2009)

Days on the market: two

Listing agent: Christopher Bibby, Sutton Group – Associates Realty Inc.

This 585-square-foot studio is quite compact, but it encompasses all the basics to accommodate busy individuals who live, work and play downtown, agent Christopher Bibby says.

“This type of a suite was most appealing to investors or a person working in the Financial District who needed a small pied-à-terre,” he says. “It certainly had everything you needed and the location was unbelievable.”

Within the immediate vicinity, there are several TTC and GO stations, restaurants, theatres and nightclubs in the Entertainment District, and major event venues, including Nathan Phillips Square. “You have access to everything, like the Eaton Centre and Queen’s Park,” the agent adds.

As for the physical attributes of this bachelor pad – which is a designated live/work loft within the nearly century-old Graphic Arts Building – it features a three-piece bathroom, solid hardwood floors, stacked laundry machines and a linear kitchen with appliances.

In addition, everything from a bed and dining table to linens and artwork were part of the sale, making it easy for the buyer to generate rental income in the short or long term. “It was actually being rented out for $1,400 a month, … which was quite appealing to investors,” Mr. Bibby says.

The unit does not have access to parking or on-site recreational facilities, so the monthly fee is just $292, plus hydro.

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