Jag Patel
Broker
$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 as per plan * Bright, functional layout * Low floor, no elevator problem * Condo-style life lease senior residence designed for 55+ independent seniors, NOT to be confused with Long Term Care Centre *Suites equipped w/safety features for seniors, e.g. panic button *24/7 concierge/security *Recreation facilities: Dining rm, mahjong/games rm, exercise rm, media/karaoke rm, library, pharmacy, doctor office, spa *Roof garden on 9/F *Lots of rec programs: tai-chi, line dance, bridge, bingo, Cantonese opera, badminton hobby group, Karaoke workshop, religious group, morning/evening exercise, coffee mornings & more *Life Lease unit, Buyer can be 18+, One resident must be 55+, 2nd resident must be 18+ *Maintenance fee incl: Hydro, heat, central air, water *Upgraded 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 bldg (4) Owner can sell/lease at market price in the future (5) Ability to bequeath unit to beneficiary *Senior housing offers best of both worlds: For end user: 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". For investor: "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 attach) |
| 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 | |
| Washroom Type 11 | 4 | Flat |
| Washroom Type 12 | 0 | |
| Washroom Type 13 | 0 | |
| Washroom Type 14 | 0 | |
| Washroom Type 15 | 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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Jag Patel
Broker
Dir:
416-671-5246
Bus:
416-289-3000
Fax:
416-289-3008
| Book Showing | Email a Friend |
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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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