Tuesday, April 29, 2014

3-Bedroom Snowdon Co-prop, $319,000.

 Just listed, a cute three-bedroom flat on the ground floor of an undivided co-ownership property. It has a finished basement, storage and a parking spot. This undivided property at 5354 Snowdon Ave., near the corner of Coolbrook, represents 50 percent of a 1930s duplex.

The asking price is $319,000. Because it is part of an undivided co-ownership, a minimum 20 per cent down payment is required and financing must be through the National Bank on Queen Mary Rd.

A co-ownership is a little different from the typical condo arrangement. You own a share of the building, as opposed to a unit of housing. Bills for the roof, foundation, exterior walls, etc, are split according to ownership share. There are no condo fees.

Also, there is only one tax bill and the taxes are considerably cheaper than they would be for a condo of a comparable size. 
This a classic NDG duplex, circa 1925. There's a central living room, with three good-sized bedrooms, including one at the rear of the house, off the kitchen. There's plenty of oak woodwork, etched glass doors and big ol' pantry in the kitchen.

As a bonus, the flat also has a finished basement, with large family room, a half bath and big laundry and storage area with a door to the outside. There's a nice deck off the kitchen, ideal for summer dining and hanging out.

There's a single parking space behind the building which is for the exclusive use of the ground floor.

According to our friends at Google, it is a 1-minute, 600-metre walk from the flat to Snowdon metro (orange line). The delights of Queen Mary Rd. are a quick three-minute stroll north. Everything you need, from public transit, to shopping and services are at your feet.

The current owners and their co-owners upstairs have already agreed to redo the roof and take care of some necessary brick repointing of the rear facade of the building. This will be done prior to the sale.

The bathroom is recently and tastefully renovated. The kitchen could use a little cosmetic retouch,
starting with the ceramic tile floor. This is a fun project, as opposed to joyless work like bricks, roof or a French drain (already done). The asking price  of $319,000 is very competitive for the neighborhood. Snowdon, the northwestern corner of NDG, consistently holds its value and is a desirably neighborhood for young professionals and families.

Why not call me to ask for a visit?
Or check out the full listing at my  website,www.marylamey.com Plenty more picutres! Plenty more details!

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