Condo of the Week: $470,000 for a three-bedroom townhouse where mermaids used to swim

The History: The home is part of a new community built after the Vallhalla Inn was levelled in 2009. There’s no longer any kitschy Scandinavian architecture or Mermaid Lounge with costumed women swimming behind glass, but the builders saved some remnants of the old 1960s motor inn and used them to decorate the complex’s party rooms. This particular unit has been lived in for about four years, but recently got a fresh coat of paint.

Big Selling Point: A three-bedroom detached house of similar size and vintage might be listed for twice as much. While it’s true there’s no backyard here, the home does come with a big private terrace, and the community has kid-friendly amenities like a pool and a playground.

Possible Deal Breaker: The car is still king around here. The nearest subway station, Kipling, is about a 30-minute walk away. The developers anticipated this concern, however, and set up a shuttle bus that makes frequent trips to Kipling, Cloverdale Mall and Sherway Gardens. There’s also a Loblaws close by.

By The Numbers:

• $469,000 • 1,250 square feet • 250-square-foot terrace • $247 in monthly maintenance fees • 3 bedrooms • 3 bathrooms • 2 gyms in the complex • 2 party rooms in the complex • 1 den • 1 underground parking space • 1 pool in the complex