$399,900
Available - For Sale
Listing ID: N12906990
1 Sun Yat Sen Boulevard , Markham, L3R 5K9, York
| Attn : Seniors/Seniors' Adult Children/investors * Priced to sell - list price well below market price * Mon Sheong Court, demand seniors residence * *Original owner * N-O-T Estate Sale * Seller moved to bigger unit in same building* ~670 sf, 1 BR/1 Bath unit * Bright, functional layout * Low floor, no elevator problem * Condo-style life lease senior building/suites designed for 55+ independent seniors, NOT to be confused with Long Term Care Centre * Suites equipped with senior-inspired features * Recreation facilities incl: recreation/dining room, concierge/security, mahjong room, exercise room, games room, media room * Lots of recreation programs : tai-chi, line dance, bridge, bingo, Cantonese opera, badminton hobby group, Karaoke workshop, religious group, singing skills exchange, morning & evening exercise, coffee mornings & more* Life Lease unit, Buyer can be 18+, resident must be 55+, 2nd resident must be 18+ * Maintenance fee incl: Hydro, heat, central air, water * Laminate floor (LR/DR/Kit/BR) * Advantages of buying life lease senior housing: (1) Lower property tax (2) No land transfer tax (3) Buyer can register interest in life lease on development (4) Owner can sell / lease at market value in the future (5) Ability to bequeath unit to beneficiary * Senior housing offers best of both worlds - end user or investor - Canada's senior population is expected to hit 5.3 million over the next 10 years, growing by 1.7 million during that period" *Yet there is a stark shortage of new seniors housing residences being developed "Developers not building enough senior housing". As an investment, "Investment in seniors housing soaring", "senior housing is projected a higher net operating income growth than many other real estate class through 2030", quoted from articles on "Investment in seniors housing soaring", "A Big Year for Seniors Housing Investment : 2026 To Be Even Better", "Is Canada Entering A "Golden Ear" For Investing in Seniors Housing? (see attachments) |
| Price | $399,900 |
| Taxes: | $1800.00 |
| Occupancy: | Vacant |
| Address: | 1 Sun Yat Sen Boulevard , Markham, L3R 5K9, York |
| Postal Code: | L3R 5K9 |
| Province/State: | York |
| Directions/Cross Streets: | Midland/Steeles |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 4 | Flat |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 4 | Flat |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Total Area: | 0.00 |
| Sprinklers: | Conc |
| Washrooms: | 1 |
| Heat Type: | Forced Air |
| Central Air Conditioning: | Central Air |
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| MARKHAM CENTRE REALTY INC. |
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Sumit Chopra
Broker
Dir:
647-964-2184
Bus:
905-230-3100
Fax:
905-230-8577
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At a Glance:
| Type: | Com - Leasehold Condo |
| Area: | York |
| Municipality: | Markham |
| Neighbourhood: | Milliken Mills East |
| Style: | Apartment |
| Tax: | $1,800 |
| Maintenance Fee: | $610 |
| Beds: | 1 |
| Baths: | 1 |
| Fireplace: | N |
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