Re/Max Realtron Realty Inc.
20 Gilder Dr., No. 1203, Toronto
Asking price: $475,000
Previous asking price: $499,000 (October, 2023)
Selling price: $420,000 (January, 2024)
Taxes: $1,126 (2023)
Days on the market: 81
Listing agent: Bill Thom, Re/Max Realtron Realty Inc.
The action
The '70s-style apartment has a dining room.Re/Max Realtron Realty Inc.
This sub-penthouse corner unit has a large three-bedroom plan and is located less than a kilometre from Kennedy GO train and TTC stations. However, some buyers thought the monthly fees of $1,170 too high and its condition somewhat worn.
“This building was built in the ‘70s with no venting for central air, and the maintenance fees for the price are very exorbitant,” said agent Bill Thom.
“People are not expecting to pay any more than $500 or $600 for maintenance fees … even though it’s inclusive of everything.”
This unit was the only vacancy in the 13-storey building, which helped get an average of three visitors each week through the doors, but solid offers were slow in coming. One early offer was rejected before the asking price was reduced by $24,000. One more low bid was rejected before a third offer – $55,000 below the revised asking price – was accepted.
“The timing was not ideal, but it was an estate situation,” said Mr. Thom. “There was no income, and it was not rented, so we just had to do it.”
“At the time, people were looking for bargains, and this was a bargain.”
What they got
This apartment features an eat-in kitchen.Re/Max Realtron Realty Inc.
This unit has a traditional layout with windows in each bedroom and the eat-in kitchen, as well as a balcony spanning the width of the living room.
The primary suite has a walk-through closet to the smaller of two bathrooms.
The unit includes a parking spot. An indoor pool, fitness, and recreation rooms are also on-site.
The agent’s take
The unit features a large living room.Re/Max Realtron Realty Inc.
“The living room is like a living room of a house, so it’s definitely bigger,” Mr. Thom said.
“The view is incredible because nothing is blocking it, and it faces south, so it’s very bright.”