Two car parking helps sell older midtown Toronto condo

942 Yonge St., No. 417, Toronto

Asking price: $850,000 (April, 2024)

Selling price: $850,000 (May, 2024)

Previous selling price: $177,900 (August, 1997)

Taxes: $3,365 (2023)

Days on the market: 12

Listing agent: Dino Capocci, Royal LePage Real Estate Services Ltd.

The action

With some properties in this midtown stretch of Yonge Street selling in weeks and others taking months to sell, finding the right asking price was crucial, said agent Dino Capocci, who felt $850,000 would be a compelling price point. Interested buyers who swung by to take a look fell into two camps: young professionals and empty-nesters. The first and only bidder met the asking price to the dollar.

“We just don’t have a set market,” said Mr. Capocci. “Like, I could list a condo that I think will take a week and it’ll take two months. Then I’ll list a condo that I think’ll take longer, and it sells in a week.

“There were a few units listed in the area, but not in the building. What also made this condo very attractive was the fact it offered two parking spots, being downtown, right at Yonge and Bloor [streets].”

What they got

On the fourth floor of a roughly 30-year-old high-rise, this 924-square-foot unit has a standard layout with a U-shaped kitchen, separate dining area and an open entertaining space with a fireplace.

Both bedrooms have south-facing windows; one has the addition of a five-piece ensuite bathroom.

The unit includes a storage locker and tandem parking spots. Monthly fees are $919 and cover utilities and the use of building amenities, such as a gym and a rooftop terrace.

The site is a few blocks away from art galleries, upscale bistros and boutiques, Ramsden Park and two subway stations.

The agent’s take

“The important thing is its location,” said Mr. Capocci.

“The unit needed some updates, so buyers were looking for something they could add some improvements to.”