10 Wellesley Place Toronto

This is what a loft selling for under $500K looks like in Toronto

There's just something about an old building with a story that makes me instantly fall in love with a place. 

Built in 1952, 10 Wellesley Place was once a power plant that supplied power to Princess Margaret Hospital and the Wellesley Hospital back in the day. 

10 Wellesley Place Toronto

The living room with exposed brick and large windows. 

When the plant closed down, Aykler Developments decided to turn this place into condos and actually added on to the top, which is why you see the red brick façade with a hint of yellow on top.

Today, the warehouse-style exterior reaches to five-storeys, and is home to 31 apartments. 

10 Wellesley Place Toronto

The ceilings are 10-feet tall. 

One of them being this gem of a one-bed, one-bath apartment, which is listed for $489,900

10 Wellesley Place Toronto

The bedroom is just off the kitchen. 

The one-bedroom part might be a bit misleading though.

Is your bedroom really in your kitchen and only divided by a curtain? Yes. But that's not the point. 

10 Wellesley Place Toronto

The unit also comes with a storage locker, stacked washer and dryer and all the existing window coverings. 

The price is hard to believe considering most hard lofts, even small ones like this go for closer to $1 million.

10 Wellesley Place Toronto

The condo has just over 550-square-feet of living space. 

But for just under $500K you can have all those gorgeous original building details like exposed brick, soaring ceilings and huge industrial windows that flood your place with natural light. 

10 Wellesley Place Toronto

The kitchen also comes with a custom kitchen stand. 

The kitchen was also renovated according to the listing, so you have new appliances and a quartz countertop. 

10 Wellesley Place Toronto

The rooftop patio. 

The fees aren't outrageous coming in at $500.92 monthly. But not surprising since there aren't many amenities. Although, there is a BBQ area, underground parking, and a shared rooftop patio. 

10 Wellesley Place Toronto

The bathroom. 

This condo is also in a good location. It's right in St. James Town neighbourhood which isn't far from Church Street and all it has to offer. It's also close to tons of nature, Rosedale Ravine Lands, Riverdale Park, and the Don Valley Trails are all close by. 

And if this Steam Plant loft isn't really your jam but you have a bigger budget there's another apartment that's also on the market for just over $800K and it's equally cool with a part of it being inside the original smoke stack. 

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