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Price: $ 1,500 / month
Quarter: Upper beaches – East End-Danforth
X-factor: With a large window and an open floor plan, light fills this spacious, well-maintained bachelor unit. Located on the upper level of a detached house, the unit has a separate entrance from the front door of the house, and supplies (other than the internet) are included in the rent.
There is also a large, fenced backyard that offers an extra space to relax in the warmer months.
There are various transit options nearby, including Main Street Subway Station along the Bloor-Danforth line, which is about a 10-minute walk away, and Danforth GO Station, which is also within a 10-minute walk. It is easy to commute to the city center with a GO train ride to Union Station or a 15-minute subway ride to Bloor-Yonge Station.
We speak with our expert, real estate agent Othneil Litchmore, to gain a better understanding of this rental.
Why is it priced this way?
The unit at 204 Oakcrest Avenue is not quite within the excitement of the Danforth neighborhood, which is mostly west of Woodbine Avenue, especially near Chester Station, Litchmore said, but it is not far from the characteristic eateries, cafes, shops and parks in that area.
The area in which the house is located is less gentrified than those to the west, meaning house prices may be a bit lower; but the unit has been renovated, which should drive up the rent, Litchmore added.
Although the price is “kind of high,” for a study in this area, there are many trade-offs, Litchmore said, so it’s not a bad deal.
The unit is on the top floor – not in a basement; it is close to transit and it has been renovated, he points out. There are a few cheaper options in the area available for about $ 1,300, but these apartments tend to be basement units, usually have old appliances and have been made available to a tenant through an unprofessional “slap job,” Litchmore says, and looking at the listings in the area.
This unit was leased on November 7, a week after it was listed, which is also a pretty good indicator that the price is considered reasonable, Litchmore says.
The price of this home is better compared to similar units in the center.
“(The tenant) probably saved about $ 200 (every month) by going where they went,” Litchmore says.
Tips for finding places like this?
Keep your eyes open for other homes that could be converted into more units, Litchmore said, adding that there may be options that are more affordable than the units in apartment buildings.
He points out that this studio is not the only apartment in the house for rent, and that the ground floor and basement are also available for $ 2,500 and $ 1,600, respectively.
“Sometimes you’ll get a situation where utilities are included because it’s divided in three ways,” Litchmore said, as is the case with this house. “Because it may not be measured separately.”
In apartment buildings, tenants usually have to pay for at least one supply – typically hydropower, Litchmore said.
“You might find a hidden gem or something like that for $ 1,500, $ 1,300, but you’re just on the top floor – but you get a lot of light, everything’s renovated, you have new appliances, you want a lot of nice things,” he said. Litchmore. “It’s just that you’re in this home with three units.”
In addition, the owner of this home in particular did a good job of ensuring that the three units are self-contained even though they share the laundry space in the basement, Litchmore said.
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