The Rio - Tower II Condos
0Listings for Salefor Sale
1Listing for Rentfor Rent
253 Merton St
The Rio - Tower II Condos
253 Merton Stexpand addresses list
    0Listings for Salefor Sale
    1Listing for Rentfor Rent
    Walk Score
    84
    Transit Score
    81
    Bike Score
    55
    © MapTiler © OpenStreetMap
    0
    CONDO Demand
    high
    Unit Availability
    low
    Property Type
    Condo
    Developer
    Heather Downs Developments Inc.
    Condo Completion
    2002
    Property Management
    Percel Inc.
    Unit Size Range
    435 - 1453 SQFT
    Number of Units
    124
    Number of Storeys
    13

    253 Merton St, Toronto

    About this condo

    Condo Overview

    It’s a good thing pets are welcome at 253 Merton Street: surrounded by parks, ravines, and even a 9-kilometre trail on an old railway line, this building is a dream for both residents and their furry friends.

    Constructed in 2002 by Heather Downs Developments Inc., the Rio Tower II Condos rises to 13 storeys and contains 124 units. Its simple façade is covered mostly in stucco, with plenty of glass hinting at the bright homes found inside.

    Although the building has been around for nearly two decades now, it certainly measures up to contemporary buildings as far as amenities go. Residents can entertain in the party room, break a sweat in the gym (or in the hot tub), relax in the billiards room and library, have a cookout on the communal patio, which happens to be conveniently equipped with barbecues. On top of all that, there’s a 24-hour concierge on staff, plus underground parking with spots for guests.

    The Suites

    The homes at 253 Merton St range considerably in size, allowing them to suit all sorts of residents. Single professionals or couples, for example, might opt for one of the building’s 600-square-foot studios, while those in need of a little more space will be glad to hear that the largest Toronto condos for sale reach to approximately 1,300 square feet and contain three bedrooms. And seeing as the building has been around for some time now, there’s plenty of variety from unit to unit in terms of upgrades and interior design styles.

    The Neighbourhood

    The Rio Tower II Condos can be found in the Mount Pleasant neighbourhood — and yes, it is as pleasant as it sounds. For one, charming residential streets with impressive homes line the area.

    There’s also an abundance of green space surrounding 253 Merton St. The Kay Gardner Beltline is a great place for a stroll, as is the enormous Mount Pleasant Cemetery. The latter has been around since the late 1800s and is designated a National Historic Site of Canada. On sunny summer days, the cemetery comes alive (pun intended) with cyclists and pedestrians.

    In terms of commercial offerings in the area, 253 Merton St happens to be situated in between two major roads with plenty of businesses to explore. To the east is Mount Pleasant, a charismatic street that’s home to everything from an old-school diner to a movie theatre that dates back to the 1920s. Things feel slightly more modern over on Yonge Street, just west of 253 Merton St. Here, residents can find cafés, pubs, restaurants, shops, and even a subway station.

    Transportation

    Speaking of the subway, Davisville Station on the Yonge line takes just 10 minutes to reach from 253 Merton St by foot. Residents also have the option of hopping onto the Davisville bus at Pailton Crescent, which makes the journey over to the subway station take all of 6 minutes. Once at Davisville Station, passengers can ride west toward downtown Toronto, landing themselves as far south as Union Station in less than 20 minutes.

    As for those who prefer to drive, Yonge Street comes in handy when heading south into the downtown core as well as north toward the 401 — and beyond. When Yonge becomes congested, however, residents also have the option of using Mount Pleasant to head down south.

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    Amenities

    Visitor Parking
    Recreation Room
    BBQ
    Party/Meeting Room
    Games Room
    Underground Parking
    Security System
    Gym
    Concierge
    Sauna

    Maintenance Fees Cover

    Maintenance fees include

    None

    Owner / renter pays separately

    Hydro
    Heat
    Air Conditioning
    Water

    Past Sold & Rented Listings

    Stats, Trends & Rankings

    Price Per Square Foot
    The Rio - Tower II Condos vs The Mount Pleasant Area

    $10.00
    More Expensive
    per SQFT compared to the neighbourhood average
    The Rio - Tower II Condos's Avg
    price per SQFT
    $926
    / SQFT
    Neighbourhood Avg
    price per SQFT
    $916
    / SQFT

    Building Trends At The Rio - Tower II Condos

    Days on Market

    Units at The Rio - Tower II Condos spend an average of
    26
    Days on Market
    based on recent sales

    List vs Selling Price

    On average, these condos sell for
    1%
    below
    the list price.

    Offer Competition

    Condos in this building have an

    AVERAGE
    chance of receiving
    Multiple Offers

    Turnover of Units

    On average, each unit is owned for
    4.7
    YEARS before being sold again

    Property Value

    -2%
    Decrease in property value within the past twelve months

    Price Ranking

    13th
    Highest price per SQFT out of 41 condos in the Mount Pleasant area

    Sold Units

    6
    Units were Sold over the past twelve months

    Rented Units

    10
    Units were Rented over the past twelve months

    Best Value

    The Rio - Tower II Condos offers the
    ?
    best value out of 41 condos in the Mount Pleasant neighbourhood

    Return on Investment

    The Rio - Tower II Condos has the
    ?
    highest ROI out of 41 condos in the Mount Pleasant neighbourhood

    Rental Yield

    The Rio - Tower II Condos yields the
    ?
    highest rent prices out of 41 condos in the Mount Pleasant neighbourhood

    High Demand

    The Rio - Tower II Condos is the
    ?
    most popular building out of 41 condos in the Mount Pleasant neighbourhood

    Sales vs Rental Values For This Condo

    1 Bed584 - 627 SQFT
    Average Cost Per Sqft$920
    Sales Price Range$545,164 - $600,000
    Rental Price Range$1,700 - $2,000
    1 Bed + Den623 - 623 SQFT
    Average Cost Per Sqft
    N/A
    Sales Price Range
    N/A
    Rental Price Range$1,950 - $1,950
    2 Bed749 - 825 SQFT
    Average Cost Per Sqft$927
    Sales Price Range$670,000 - $749,000
    Rental Price Range$2,650 - $2,850
    2 Bed + Den1453 - 1453 SQFT
    Average Cost Per Sqft$905
    Sales Price Range$1,300,000 - $1,300,000
    Rental Price Range
    N/A

    How Often Are Units Listed?

    Studio
    Average Sales Availability
    N/A
    Average Rental Availability
    N/A
    Ratio of Unit Type in Building3%
    1 Bed549 - 700 SQFT
    Average Sales Availability
    Every178Days
    Average Rental Availability
    Every181Days
    Ratio of Unit Type in Building26%
    1 Bed + Den623 - 749 SQFT
    Average Sales Availability
    Every250Days
    Average Rental Availability
    Every289Days
    Ratio of Unit Type in Building19%
    2 Bed749 - 1200 SQFT
    Average Sales Availability
    Every233Days
    Average Rental Availability
    Every190Days
    Ratio of Unit Type in Building46%
    2 Bed + Den1245 - 1453 SQFT
    Average Sales Availability
    Every2815Days
    Average Rental Availability
    N/A
    Ratio of Unit Type in Building3%
    3 Bed1112 - 1250 SQFT
    Average Sales Availability
    Every802Days
    Average Rental Availability
    N/A
    Ratio of Unit Type in Building3%

    Maintenance Fees
    The Rio - Tower II Condos vs The Mount Pleasant Area

    $0.16
    More Expensive
    per SQFT compared to the neighbourhood average
    The Rio - Tower II Condos's Avg
    monthly maintenance
    fee per SQFT
    $0.95
    / SQFT
    Neighbourhood Avg
    monthly maintenance
    fee price per SQFT
    $0.79
    / SQFT

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