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 * Bright, functional layout * Low floor, no elevator problem * Condo-style retirement building/suites for 55+ independent seniors, NOT to be confused with Long Term Care Centre * Suites equipped with senior-inspired features * Recreation facilities incl: recreation/dining room, concierge/security, mahjong room, exercise room, games room, media room * Lots of recreation programs : tai-chi, line dance, bridge, bingo, Cantonese opera, badminton hobby group, Karaoke workshop, religious group, singing skills exchange, morning & evening exercise, coffee mornings & more* Life Lease unit, Buyer can be 18+, resident must be 55+, 2nd resident must be 18+ * Maintenance fee incl: Hydro, heat, central air, water * Laminate floor (LR/DR/Kit/BR) * Advantages of buying retirement home: (1) Lower property tax (2) No land transfer tax (3) Buyer can register interest in life lease on development (4) Owner can sell / lease at market value in the future (5) Ability to bequeath unit to beneficiary * Senior housing offers best of both worlds - end user or investor - 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". As an investment, "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? (please see attachments)
Address
263 - 1 Sun Yat Sen Boulevard
List Price
$399,900
MLS® Status
New
Expiration Date
2026-06-30
Property Type
Residential Condo & Other
Type of Dwelling
Leasehold Condo
Style of Home
Apartment
Transaction Type
Sale
Area
Markham
Sub-Area
Milliken Mills East
Region
York
Bedrooms
1
Bedrooms (Total)
1
Rooms Above Grade
4
Bathrooms
1
Floor Area
600-699 Sq. Ft.
Square Foot Source
builder plan
Occupant Type
Vacant
Cross Street
Midland/Steeles
Maint. Fee
$610.00
MLS® Number
N12906990
Listing Brokerage
MARKHAM CENTRE REALTY INC.
Basement Area
None
Postal Code
L3R 5K9
Posession Details
Immediate/Flexible
Tax Amount
$1,800.00
Tax Year
2025
Property Management Company
Mon Sheong Court Property Management 905-305-8178
Pets
Yes-with Restrictions
Site Influences
Public Transit
Accessibility Features
Bath Grab Bars, Shower Stall
Interior Features
Carpet Free
Property Features
Public Transit
Central Vacuum
No
Family Room
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Senior Community
Yes
Board Or Association
Toronto Regional Real Estate Board
Association Amenities
Exercise Room, Game Room, Visitor Parking, Concierge, Recreation Room, Elevator
Association Fee Includes
Heat Included, Hydro Included, Water Included, Cable TV Included, CAC Included, Common Elements Included, Building Insurance Included
Association Name
N/A
Heat Source
Gas
Heat Type
Forced Air
Cooling Features
Central Air
Balcony Type
None
Construction Materials
Concrete
Exposure
North
Fireplace
No
Garage
Yes
Garage Type
Underground
Kitchens Total
1
Kitchens Above Grade
1
Laundry Features
Ensuite
Legal Level Number
2
Security Features
Concierge/Security
Waterfront
No
Locker
None
Building Name
Markham Mon Sheong Court
