What kind of apartment does $5000 get you in Toronto?
A $5,000 apartment isn't necessarily all that swank in Toronto these days. With the average price of a condo atmore than $400,000, a detached home more than a million, and, rental prices are likewise rapidly spiralling upward. For the most part, this list of $5,000-a-month properties is frighteningly mundane: there are no moats, no turrets, no champagne filled swimming pools or basement cinemas.
This is what $5,000 a month gets you in Toronto's rental market.
$5,000 in High Park
This limestone building used to be a church. Now it's a two-bedroom luxury loft with underground parking and exposed beams that boasts a panoramic view from the bell tower. Inside this $5,000 a month unit, the lucky renter will find two bedrooms, two bathrooms, granite work surfaces, stained glass, and wooden floors--"executive luxury."
Move on if... Living in a converted church threatens to awaken the demon in you.
Three bedrooms, three bathrooms, and a substantial backyard overlooking the Moore Park Ravine. Five grand a month buys nice digs (as it should,) but this property is really nothing special. It's all about the prestigious location away from the proletariat.
Move on if... You get sweaty palms at the prospect of paying $5,000 to rent a carbon copy of your friend's home in small town Ontario.
Hard wood floors and chrome appliances are everywhere in this vast detached home on Willow Ave. There are three bedrooms, three bathrooms, and something called a "private master suite oasis," where one can retreat after another day making big bucks.
Move on if... You're a shower stall traditionalist. This one just sprays right onto the floor for some reason.
On Clendenan Ave. near High Park station, $4,500 is enough to rent a pleasant looking, if wholly unremarkable, four-bedroom, three bathroom house. It's got a wood-burning fireplace, a finished basement with separate entrance, freshly painted walls, and enough parking spaces (four) to accommodate a motorcade.
Move on if... You're creeped out by the abandoned rocking chair in the basement.
This cute worker's cottage with gingerbread trim was built at a time when the local area was so poor its residents subsistence farmed their front yards. In 2015, it costs the best part of $5,000 to rent each month. For the money, the lucky tenant gets two bedrooms (both ensuite,) a rooftop deck, finished basement, garage, and the privilege of not having to grow food in order to survive.
Move on if... You think paying thousands in rent will translate into an abundance of floor space.
$4,500 at Yonge and Gerrard
This two bedroom unit on the 68th floor of the Aura building at Yonge and Gerrard is quite possibly the highest place on the market in the $5,000 price range. What it appears to lack in charm (the photos are weird and horrible) it makes up for with expansive views of downtown, the Toronto Island, and Lake Ontario.
Move on if... Those floor-to-ceiling windows make your knees weak with fear.
What do you think? Would you lay down five grand for any of these places?
Chris Bateman is a staff writer at blogTO. Follow him on Twitter at @chrisbateman.
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