Property Overview
This is a spacious, character-filled condo unit in the desirable Crescentwood neighbourhood. Built in 1911, it offers 1,630 square feet of living space, which is notably larger than most comparable properties in the area and ranks within the top 5% city-wide for size. The unit is part of a multi-unit property on Dorchester Avenue, sharing the address with several other suites. Its municipal assessed value is $280,000, which is around the average for its immediate context. The last recorded sale was in May 2021 for $279,000.
Key Characteristics & Appeal
The primary appeal of this property lies in its generous square footage within a classic, established neighbourhood. Buyers gain the space typically found in a detached home but with the lower-maintenance lifestyle of condo living. Its charm is rooted in history and location rather than modern finishes. The unit's size is its standout feature, offering room to breathe that is uncommon in many newer builds or typical condos.
This property would suit a specific buyer: someone who values character, space, and location over a brand-new build. It’s ideal for downsizers from larger Crescentwood homes who want to stay in the neighbourhood without the upkeep of a house, or for buyers who prioritize interior volume and classic architecture. A thoughtful perspective is that while the building itself is older, the above-average living area provides a blank canvas that can be modernized over time according to the owner's taste, offering potential to add value. It’s less suited for those seeking the latest amenities, a new building envelope, or a standalone property.
Frequently Asked Questions
1. What does the assessed value of $280,000 mean for the listing price?
The assessed value is set by the municipality for tax purposes and is not a direct indicator of market value. List prices are determined by current market conditions, recent sales of similar properties, and the seller's discretion.
2. Are there any concerns with a building from 1911?
While full of character, buildings of this age require diligent maintenance. Prospective buyers should pay close attention to the status report from the condo corporation regarding the reserve fund, any recent or planned major repairs (like roofing, plumbing, or wiring), and the building's overall financial health.
3. What is the condo fee structure, and what does it cover?
This information is not provided in the public data. A review of the condo corporation's financial statements and bylaws is essential to understand monthly fees, what utilities or services are included, and how the reserve fund is managed.
4. How does sharing the address with multiple units work?
The listing indicates units 1 through 4 at this address. This typically means it is a converted house or a small multi-plex. It's important to clarify the total number of units, the setup for parking and laundry, and the overall dynamic of the shared property.
5. Why did it sell for roughly the assessed value in 2021, and what does that suggest now?
The 2021 sale price being close to the assessed value at that time may indicate a balanced market moment or a property priced for its condition. Given market shifts since then, a current evaluation would need to consider updated comparable sales and any changes made to the unit or building.