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Yonge and Eglinton. 1 Bedroom + Den for Sale

Non MLS: Exclusive Listing

Spacious 1 bedroom+den in charming boutique building. Asking $325K, better value than a condo: Great size, over 750 sq.ft, solid construction, 1 locker & 1 underground parking.

Charming Co-Ownership Building (not co-op) – do not need board approval, can be rented out. Please inquire about financing.

Beautiful 1 Bedroom+Den

  • NW corner unit, great layout, over 750 sq.ft.
  • wood floors & crown moulding in living & dining area
  • updated kitchen with tile backsplash, cermic floors
  • large bedroom, newer laminate floors, garden views
  • separate den, wood floors, window and double closet
  • large balcony
  • great ensuite closet space & storage, 3 mirrored  & 2 single closets
  • 1 Locker and Underground Parking (very valuable in this location!)

Quiet building has elevator, laundry room, updated hallways

Prime location, Yonge and Eglinton. Walk to TTC subway, groceries, gyms, shops, schools, restaurants and all amenities.

Excellent value, $325K. Great for first-time Buyers, Investors or city pied-de-terre.

For more info on this exclusive listing: contact us or tochristineng@gmail.com

 

Do not confuse Co-ownership with Co-op!
Martin Rumack, is a Toronto lawyer with years of experience in co-ownerships.
He teaches a course on the topic for Toronto real estate agents.He explains the
differences between condo ownership, co-operative ownership and co-ownership:With Condos, you purchase a unit in a building and gain a percentage interest
in the common areas.You receive a deed to the unit you have purchased.

With Co-ops, you purchase shares of a private corporation that owns and manages
the building. You also receive a leasehold occupancy interest in a specific unit and
the exclusive right to use it. You do not receive a deed; you receive shares in the corporation.

With Co-ownership you purchase an undivided percentage of the building that is registered
on title (your name is on the legal ownership document), along with the exclusive right to occupy
a specific unit and you receive a deed setting out the percentage interest you have acquired.

With condos and co-ownerships (but not co-ops), you can mortgage your interest
in the property without getting consent from the board of directors.

Co-ownership is a hybrid between co-op and condo,” Mr. Rumack says.

Buyers don’t have to be concerned as long as they do their due diligence and review disclosure documents carefully with a lawyer knowledgeable about co-ownerships. For a breakdown of differences between condominum and Co-Ownership, please contact us for a copy of the chart, or tochristineng@gmail.com

 

Yonge Eglinton : Large 1 bdrm + Den in low-rise, with parking & locker, $325,000

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