This Toronto condo is on the market for just $188,000 (PHOTOS)

With the way Toronto condo prices are trending, it’s starting to feel like even the cheapest of homes are out of reach for many aspiring buyers. But if you’re willing to go to the absolute lowest end of the price spectrum, you can, in fact, find a condo for sale for less than $200,000.

A one-bedroom unit inside of 4673 Jane Street, located just south of Steeles Avenue West, is currently on the market for just $188,000, making it the cheapest home for sale in the city. And with the Toronto Regional Real Estate Board recently reporting the city-wide average selling price for condo apartments at $730,792, this unit is priced more than half a million dollars below the city’s average.

Sutton Group Realty Systems Inc.

The one-bed, one-bath apartment first came on the market in November and after not selling for several weeks, its asking price was dropped by $11,000 earlier this month.

The unit measures between 500 and 599 square feet, according to the listing, and although the apartment itself appears to be dated, the listing noted that “many improvements are being made to the building which can improve values for buyers in the future.”

Sutton Group Realty Systems Inc.

You might also like:
• Toronto house sells in less than a week for more than $800K over asking
• Brampton home prices shot up a staggering 40% last year

The space itself appears fairly spacious as far as Toronto one-bedrooms go, with a good-sized living room, bedroom, and private balcony. The unit also comes with one underground parking space.

Sutton Group Realty Systems Inc.

Any potential buyers enticed by the possibility of a very low mortgage will want to take note of the unit’s condo maintenance fees which, according to the listing, are $675 per month.