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    253 Merton Street

    The Rio - Tower II Condos
    2for Sale
    1for Rent

    Building Details

    Property Type:
    Condo
    Number of Storeys:
    13
    Number of Units:
    124
    Condo Completion:
    2002
    Condo Demand:
    Medium
    Unit Size Range:
    461 - 1,462 SQFT
    Unit Availability:
    Low
    Property Management:

    Listing History for The Rio - Tower II Condos

    Receive listing updates for Mount Pleasant West

    Amenities

    Security System
    Visitor Parking
    Sauna
    Party Room
    Rec Room
    Concierge

    Maintenance Fees

    Included
    None
    Excluded
    Hydro
    Heat
    Air Conditioning
    Water

    About 253 Merton StreetThe Rio - Tower II Condos

    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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    Demographics

    Based on the dissemination area as defined by Statistics Canada. A dissemination area contains, on average, approximately 200 – 400 households.

    Population
    11,711
    Average Individual Income
    $59,569
    Average Household Size
    3 persons
    Average Age
    45
    Average Household Income
    $98,571
    Dominant Housing Type
    High Rise Apartment
    Population By Age
    0 - 14
    13%
    15 - 19
    1%
    20 - 34
    28%
    35 - 49
    19%
    50 - 64
    19%
    65+
    17%
    Household Income
    $0 - $30,000
    48%
    $30,000+
    26%
    $60,000+
    14%
    $90,000+
    8%
    $125,000+
    3%
    Housing Types & Tenancy
    High Rise Apartment
    44%
    Detached
    28%
    Low Rise Apartment
    12%
    Semi Detached
    11%
    Duplex
    3%
    Marital Status
    Commute
    Languages (Primary Language)
    Other
    69%
    Mandarin
    14%
    Cantonese
    11%
    Tagalog
    2%
    Telugu
    1%
    Arabic
    1%
    Spanish
    1%
    Hindi
    1%
    Education
    University and Above
    41%
    High School
    23%
    College
    15%
    None
    14%
    University Below Batchelor
    3%
    Apprenticeship
    2%
    Major Field of Study
    Business Management
    28%
    Architecture & Engineering
    19%
    Social Sciences
    11%
    Health & Related Fields
    10%
    Math & Computer Sciences
    8%
    Physical Sciences
    5%
    Humanities
    4%
    Education
    3%
    Visual & Performing Arts
    3%
    Personal, Protective & Transportation Services
    2%
    Agriculture & Natural Resources
    1%

    Maintenance Fees

    The Rio - Tower II Condos vs The Mount Pleasant West Area

    Days on Strata

    Units at The Rio - Tower II Condos spend an average of
    21
    Days on Strata
    based on recent sales

    List vs Selling Price

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

    Offer Competition

    Condos in this building have an
    AVERAGE
    chance of receiving
    Multiple Offers
    compared to other buildings in Mount Pleasant West

    Turnover of Units

    On average, each unit is owned for
    5.5
    YEARS before being sold again

    Property Value

    -4%
    Decrease in property value within the past twelve months

    Price Ranking

    17th
    Highest price per SQFT out of 57 condos in the Mount Pleasant West area

    Sold Units

    7
    Units were Sold over the past twelve months

    Rented Units

    3
    Units were Rented over the past twelve months

    Best Value Rank

    The Rio - Tower II Condos offers the
    ?
    best value out of 57 condos in the Mount Pleasant West neighbourhood

    Appreciation Rank

    The Rio - Tower II Condos has the
    ?
    highest ROI out of 57 condos in the Mount Pleasant West neighbourhood

    Rental Yield

    The Rio - Tower II Condos yields the
    ?
    highest rent prices out of 57 condos in the Mount Pleasant West neighbourhood

    High Demand

    The Rio - Tower II Condos is the
    ?
    most popular building out of 57 condos in the Mount Pleasant West neighbourhood

    Transaction Insights at 253 Merton Street

    Studio1 Bed1 Bed + Den2 Bed2 Bed + Den3 Bed
    Price RangeNo DataNo Data$630,000$720,000 - $811,000No Data$1,225,000
    Avg. Cost Per SqftNo DataNo Data$943$894No Data$999
    Avg. Wait for Unit AvailabilityNo Data216 Days268 Days252 DaysNo Data3352 Days
    Ratio of Units in Building3%30%19%44%3%3%

    Unit Sales vs Inventory

    Total number of units listed and sold in Mount Pleasant West