In Toronto’s hot housing market, how did this midtown condo sell for $420000?

Listed for $399,000, the one-bedroom, one-bathroom unit nestled between Eglinton and St.

Co-op spaces operate similarly to a rental, but without the traditional landlord structure.

Walking into this property, you’re met by a narrow hallway leading to the bathroom and a 115-square-foot bedroom to the right.

Also in the living room is a fireplace with a mantle, bright walls, a large window and a view of the dining area staged with a small, circular table and two chairs.

The seller, a young professional, bought the property for $350,000 in early 2020, landing them $70,000 in profit in just two years from holding onto the property.

Typically, co-ops require buyers to front a 20 per cent deposit, and they often have a select pool of lenders who will mortgage the rest, Nodell says.

Younger people have been increasingly looking to purchase these properties in the last few years, Nodell explains.

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