Stacked townhouse near Allan Gardens sells near asking to lone bidder

The action

This end unit is part of a stacked townhouse complex on Jarvis Street, a block north of Allan Gardens. It had competition from six other units around the same time this spring, but it was the only one with a two-bedroom plan all on one level. The last similar unit, without parking, sold for $595,000 five months prior, so an asking price of $625,000 was deemed reasonable. Within two weeks an offer of $620,000 was accepted.

“Over 14 days, we had nine showings, so it was one of our busier listings,” said agent Christopher Bibby.

“The fact it had two bedrooms, parking and a locker at that price, it was a tremendous amount of value.”

Though $5,000 was knocked off the price, the sellers gained a better, and faster, payout than high-rise counterparts.

“Townhouse condominiums will always outperform traditional condos because there aren’t many of them given the cost of land now,” Mr. Bibby said.

“Not everyone wants concierge, a gym or elevators, so this is for people who want that freedom to go in and out of their unit as they please.”

What they got

In a block of single-storey and multistorey units constructed in 2002, this lower-level unit has a private patio and front entrance off a common courtyard.

In one corner of the principal room, there is a gas fireplace, and in the opposite corner, a U-shaped kitchen equipped with stainless-steel appliances.

The bedrooms and a four-piece bathroom are down the hall.

Monthly fees of $519 include water charges.

The agent’s take

“We were at the end of a row, so we had more natural light,” said Mr. Bibby.

“This was also a lower-level, stacked [unit], which made it appealing for some because the other ones up top are more vertical with lots of stairs.”