Incredible opportunity to own at the highly desirable Artworks by Daniels!
Development Details
- Project Name: Artworks Condos
- Developer: Daniels
- Major Intersection: River & Dundas
- Neighbourhood: Regent Park
- Storeys: 32
- Estimated Completion: Summer 2022
- Maintenance Fees: $0.56 /sqft /month – includes gas & water
- Taxes: Approx. $3,000/year
The Suite
- Functional open concept 991 sqft. “Renaissance” unit
- 3-bed + den (potential to use the den as a 4th bedroom)
- 2 full baths
- 78 sqft balcony
- Ensuite laundry
The Building Amenities
- Co-working space
- Outdoor terrace
- Outdoor CrossFit & Yoga spaces
- Kids’ Zone
- Party room
- Arcade
- Mega Gym
- Connected indoor and outdoor communal space
- BBQ area & gardening plots
The Financials
Rental Scenario 1: Rent the entire unit
- Purchase Price: $899,000
- Monthly Mortgage Payment: $2,430*
- Property Tax: $275
- Condo Fees: $500
- Insurance: $50
- Total Monthly Expenses: $3,255
- Monthly Rent: $3,400
- Monthly Cash Flow: $145
Rental Scenario 2: Rent by the room
- Purchase Price: $899,000
- Monthly Mortgage Payment: $2,430*
- Property Tax: $275
- Condo Fees: $500
- Insurance: $50
- Total Monthly Expenses: $3,255
- Monthly Rent: $3,800
- Bedroom 1: $1,100
- Bedroom 2: $1,000
- Bedroom 3: $1,000
- Den: $700
- Monthly Cash Flow: $545
What’s so special about this opportunity?
Exclusive Volition Assignment. The Volition team is giving priority to our community – we have an actual unit available, not just phantom inventory that “theoretically” may become available if an owner decides to assign it (like other agents/websites).
Suited for Investment or Own Use. The area is part of the Regent Park Revitalization project that began in 2005 and has large upside potential given that the neighbourhood continues to gentrify with greater commercial development and more condos in phases 4 and 5 to come over the next 3-5 years. The redevelopment of Regent Park continues to attract young families, and working professionals as well as students – given its close proximity to Downtown Toronto’s post-secondary schools.
Ideal Layout. Boasting 3-beds + den (which has the potential to be used as a 4th bedroom), 2 full baths and a balcony, this unit stands out from others during current times with ample work from home and outdoor space.
Did we mention the location?
- Closest major intersection: River & Dundas
- 12 mins walk to Ryerson University
- 20 mins walk to Distillery District, Yonge & Dundas Square, Leslieville & St. Michael’s Hospital
- 17 mins walk to the Financial District
- Next door to the Pam McConnell aquatic centre
- Quick access to the DVP
- Walking distance to restaurants, shops and entertainment
- Nearby parks include Oak Street Park, Sumach-Shuter Parkette and Riverdale Park West
- Walk Score of 88 – Very walkable
- Transit Score of 100 – Rider’s paradise
- Bike Score of 100 – Biker’s paradise
Buying an Assignment
- Buying the right condo assignment can be an extremely lucrative investment opportunity, but the process can be fraught with PITFALLS if you don’t know what you’re doing.
- Assignments are not as straightforward as buying resale or preconstruction. The assignment contract is extremely complicated and needs to be structured PROPERLY.
- You need to work with an Investor Realtor who thoroughly understands the process and knows how to do assignments, or you could be opening yourself up to SIGNIFICANT risk.
- The Volition team has bought & sold many assignments both personally and for our clients, we even recorded a Meetup about the PROCESS – watch it here.
Asking price: $899,000
Interested in learning more? Contact Chris at chris@volitionprop.com for more information.