Etobicoke condo near Pearson airport sells for $152,100 over asking

451 The West Mall, No. 601, Toronto

Asking price: $459,900 (February, 2022)

Selling price: $612,000 (February, 2022)

Taxes: $1,136 (2021)

Days on the market: Three

Listing agent: Ed Allan, Royal LePage West Realty Group Ltd.

The action

Demand took off in in the first two months of the year for units in this roughly 50-year-old building south of Pearson airport, with several sold in a matter of days. This two-bedroom suite had three buyers lining up with offers almost immediately, followed by five more after the sellers agreed to discard their initial hold-back time frame for assessing offers. The best of the eight came in at $612,000 – $152,100 over the asking price.

“There were a couple other properties I sold about a week earlier and they also sold within a short time, so we knew there was activity there,” agent Ed Allan said.

“Since then, a lot more properties have come on the market and there’s more of a selection, but right after Christmas is always a good time to sell. Every year, it’s always the same.”

What they got

This roughly 1,000-square-foot unit has a formal kitchen and open living and dining area with parquet hardwood floors, rows of picture windows and a door to a wide balcony.

The unit does not offer laundry facilities, but it comes with a locker and parking. Monthly fees of $730 include utility costs.

The agent’s take

“All the units are a good sized – about 1,000 square feet – so you can put a lot of people in there,” Mr. Allan said.

“You could take one of the bedrooms and make it into an office and work from home.”

Amenities in and around the high-rise building were a bonus. “They have spent a lot of money on fixing the lobby, outside and the halls,” Mr. Allan said.

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