Royal LePage Real Estate Services Ltd.
188 Redpath Ave., No. 707, Toronto
Asking price: $599,000 (June, 2024)
Previous asking price: $695,000 (April, 2024)
Selling price: $590,500 (August, 2024)
Previous selling price: $292,500 (November, 2007); $138,964 (September, 2000)
Taxes: $2,645 (2023)
Property days on market: 118
Listing agent: Dino Capocci, Royal LePage Real Estate Services Ltd.
The action
The unit features a U-shaped kitchen with quartz countertops and stainless steel appliances.Royal LePage Real Estate Services Ltd.
In a boutique building near Yonge Street and Eglinton Avenue, this one-bedroom plus den unit was unable to get an offer while it was listed for $725,000 last year or when asking $699,000 this year. In March, the owner noticed a smaller unit one floor below fetch $507,000 and recruited the agent that helped sell it. The price was reset to $695,000 in April and then $599,000 in June. After seven weeks, one visitor negotiated a $590,500 deal.
“There were similar units, all around the same price of $699,000 or $650,000, and unfortunately, we listed during a period when there was a lot of inventory,” said agent Dino Capocci.
“We know condos are not flying off the shelf, so it was a case of a lot of work, adjusting the price and eventually getting it sold.”
What they got
The living room has large windows and a side door to a balcony.Royal LePage Real Estate Services Ltd.
This 24-year-old unit was recently renovated with hardwood flooring, modern bathrooms and a U-shaped kitchen with quartz countertops and stainless-steel appliances.
The living room has large windows and a side door to a balcony. The den lies behind a frosted door for privacy.
A storage locker and parking spot complete the package. Water costs are included in monthly fees of $678.
The agent’s take
The unit was recently renovated with hardwood flooring.Royal LePage Real Estate Services Ltd.
“For $590,500, that’s good value for 634 square feet with parking, a locker and a little balcony,” said Mr. Capocci.
“It was brand-new – no one had lived in it – with a brand-new kitchen, two new bathrooms and the den was a good size that could easily be a second bedroom.”
The building has basic amenities and is close to major retailers, restaurants, gyms and public transit.
“The location is second to none, right off Eglinton,” Mr. Capocci said.