3 marine parade drive toronto

This is what you can get for $275K in Toronto right now but there's a catch

While this place may be in a millennial's budget, it definitely is not for them. According to the listing, this apartment is actually a "luxury retirement condo". 

The one-bed, one-bath unit is in Hearthstone By The Bay in Etobicoke and is listed for just $275,000

3 marine parade drive toronto

The outside of the building. 

And even though it's a retirement condo it's still a pretty sweet deal for a condo right by the waterfront!

3 marine parade drive toronto

The library.

Or even for a retirement home for that matter. Assisted living can run anywhere between $3,000 to $7,000 a month in Toronto, according to the Financial Post.

3 marine parade drive toronto

One of the common areas. 

The unit itself isn't bad either. It's actually quite lovely.

3 marine parade drive toronto

The bedroom that walks-out to the balcony. 

The rooms are spacious and there are large windows that let in lots of natural light. 

3 marine parade drive toronto

The kitchen comes with all the appliances, including the dishwasher and microwave. 

The kitchen has all the essentials and there's also a living room and dining room. 

3 marine parade drive toronto

The sunroom. 

There's even a balcony, a sunroom, and an in-unit washer and dryer.

3 marine parade drive toronto

The lobby. 

The condo fees are $447.26 monthly and the building has plenty of amenities including a concierge, an exercise centre, a recreation centre, movie theatre and hair salon.

3 marine parade drive toronto

The bathroom with a spacious walk-in shower. 

However, the catch is that in order to live here you need to buy into a "mandatory membership package". It costs $1,647.58 a month plus HST and any additional person that lives there is another $223.03 a month.

3 marine parade drive toronto

The bar and billards room. 

But the membership gets you four-hours of housekeeping, dining room meal credits, and a 24-hour on-duty nurse. 

3 marine parade drive toronto

The balcony. 

That being said there aren't any explicit rules that you need to be retired to buy this place and honestly full-service luxury living for less than my rent sounds kind of nice.

Photos by

Real Vision

Join the conversation Load comments

Latest in Real Estate

Iconic Toronto building has new owner after sitting vacant for nearly 20 years

Home prices in Toronto rise to record levels and here's what experts say will happen next

This is what a $5 million basement apartment looks like in Toronto

There are only 3 Toronto neighbourhoods where the average rent is less than $2K

That time Toronto almost built a towering monument to jeans

This converted church in Ontario is listed for less than an average Toronto condo

Toronto rent prices are still down nearly 15% since this time last year

This is the cheapest detached house you can get in Toronto right now