Condo of the Week: $550,000 for a co-op apartment with a beach view

Condo of the Week: $550,000 for a co-op apartment with a beach view

Address: 15-21 Glenfern Avenue, Unit 31
Neighbourhood: The Beach
Agent: Scott Lyall, Re/Max Hallmark Realty Ltd., Brokerage
Price: $549,000

The place: A third-floor apartment with a cottage-country feel. It’s located in a well-maintained co-op building (so, yes, “Condo of the Week” is a bit of a misnomer this time) that’s just a Frisbee toss from Balmy Beach.

The history: The building dates to the early 20th century. Things have been pretty quiet in the area ever since the Scarboro Beach Amusement Park’s log ride and roller coaster shut down in 1925, and Glenfern residents have sought to keep it that way. The co-op now has a strict “no renters” rule.

Big selling point: There’s a close-up view of Lake Ontario from every room of the apartment, making the horns and sirens of downtown feel nearly as far away as they do from Lake Rosseau. In fact, the current owners treated this place as their “cottage.” Their main residence is just west of Bathurst Street.

Possible deal breaker: Undivided co-ownerships have more restrictions than condos (no renters, for example), which can make them trickier to finance. Still, that lack of flexibility tends to translate into discounts, which may explain why the million-dollar view here is on offer for about half that.

By the numbers:

• $549,900
• 800 square feet
• $761 in monthly fees (includes property taxes)
• 8.5-foot ceilings (approximately)
• 1 bedroom
• 1 bathroom
• 1 sunroom
• 1 parking space
• 0 elevators