$399,000 Townhouse with 4 bedroms, parking and a low maintenance fee in Riverdale

I just can’t let this one sell without talking about it on my blog.  Ever since selling one of the units to a client last year, I’ve been touting the merits of this little complex whenever units come up for sale.  Unfortunately,  MLS rules limit me from publishing (aka “advertising” without express permission from the listing agent) a properties address that isn’t my own listing but I can discuss it in generalities.  Feel free to call me if you want to know the address or are tempted to allow me to take you to see it for yourself.

First of all, you can’t beat the location of this townhouse.  It’s in an odd and hidden complex near Broadview & Dundas Streets, so a quick streetcar (or bus) ride along King, Queen, Gerrard or Dundas right into the city.  All lines are just a few minutes walk away and will carry you into the core of the city within minutes.  It’s rare to be so close to so many different east-west lines.  If you’ve ever lived just on the edge of the downtown core, you know how there can be issues on different lines on different days and how being able to walk up or down a block to a different line can be a godsend when you are trying to get to work on time.

For the $399,000 asking price, you need to have realistic expectations.  This complex isn’t new but it also doesn’t come with sticker-shock and crazy maintenance fees.  As the complex is quite basic with no amenities, the maintenance fees remain low at about $190 per unit per month.  The general look of the complex could be better but, as I believe it was built in the late sixties, which was not exactly the prettiest of times, it’s far from the ugliest complex I’ve seen.  Sadly, it has not been gentrified but it doesn’t have the gentrified price.  The complex is simply a bit tired, but it is on the cusp of being something better than it ever was.  My client, that bought in there last year, is doing her best to push the complex into the 21st century by getting on the board and educating her fellow owners about how they can be part of changes for the better.  Things are changing and prices have already gone up just in the past year and a half.

There are a few different layouts and locations within the complex.  Depending on the side of the complex the unit is located on, you may have a garage in lieu of a basement or 4th bedroom.  All units have at least a small and private backyard where you can have a natural gas BBQ line installed.  Some of the yards back onto other houses, while some back onto a small grassy treed parkette.  All units have 2 washrooms including a 4 piece on the 2nd floor and a 2 piece in the basement.

These townhouses are, quite simply, affordable.  They all have kitchens, dining rooms and living rooms, so are suitable for proper family living, a couple of a single person wanting the space or to take in a friend/roommate to reduce their costs.   Ideally, if you can put down 10%, or $40,000, and have good credit, you should be able to qualify for 2.5% (maybe a bit less) and a 30 year mortgage which would make this townhouse carry for $1420 per month, plus taxes of $150 per month, maintenance of $190 per month and your utilities (gas & electricity), which you control yourself.

Almost all of the units come with at least 1 parking spot.  Some have built-in garages and others have parking pads either in front of their houses or within a few steps of their door.

An affordable townhouse on the edge of town with a garage that isn’t absurdly expensive?  Yes, it does exist.  Call me and let’s go see it.  These little deals come up periodically.  So, even if you aren’t ready right this minute, this unit is worth seeing so that you can think about it and be ready when the next one comes up.   Just pick up the phone and give me a call to discuss it.