161 Palmerston Ave: A Three-Suite, Self-Managed Condo Townhouse

161 Palmerston Avenue is a condo in the legal sense and a house in almost every other sense. There are three suites, no property manager and, at least when one was last featured, no monthly fee, so owning here is closer to sharing a semi with two neighbours than to living in a building. That suits some buyers very well and others not at all. I’m Jatin Dua, RE/MAX Quantum Realty.

Three suites on a residential street

Palmerston Avenue between Dundas and College is a street of older brick houses, and 161 is a small modern infill on it. Condos.ca records three suites in a low-rise building, and the corporation was registered in July 2018.

The exterior is unapologetically contemporary. When blogTO featured one of the suites in 2018, it described the outside as looking like a shipping crate, which is a fair shorthand for a boxy, modern facade among older brick houses. Whether that reads as interesting or out of place is a matter of taste, so see it in person.

I could not find a reliable public source for the builder or architect. Condos.ca does not name a developer, and one online directory describes a building at this address with different suite counts, dates and corporation number from the registered record, so I have not relied on it. Ask the seller for the original builder and any warranty records. A 2018 building is past most of its new-home warranty coverage, so knowing who built it and how matters for future repairs.

House-style suites over several levels

The suite blogTO featured was a three-bedroom, three-bathroom home of more than 1,600 square feet. It had an open main floor with a large picture window, bedrooms upstairs, a third-floor primary suite with a sitting room, a five-piece ensuite and built-in closets, and a finished basement rec room.

Finishes in that suite included nine-foot ceilings, white oak hardwood floors and a modern kitchen with Bosch appliances. That is the specification of a custom townhouse rather than a typical condo, and it explains why these suites appeal to families who want space without a detached-house price.

Not every suite in a three-suite building has to be the same, so ask for the floor plan and measurements of the one you are considering. The feature suite also came with one parking space; confirm parking for any other suite rather than assuming it.

What self-management really means

With three owners and no property manager, the owners are the board. Someone has to arrange the insurance, keep the books, collect contributions, hold an annual meeting and deal with repairs. In a good group that is a few hours a year; in a group that does not get along, it can be a real burden.

A listing of no maintenance fees does not mean the building has no costs. An Ontario condominium corporation still needs insurance and a reserve fund for future repairs, and those costs have to be paid somehow. Find out exactly how the owners have handled this, and whether a reserve fund study has been done and funded.

The status certificate is the most important document here. It will tell you the corporation’s budget, the reserve fund balance, and whether there are any arrears or planned work. In a three-suite building, one owner’s unpaid share is a third of the budget, so this matters more than it does in a tower.

Lenders and insurers also look at small corporations differently. Some lenders ask more questions when a condominium has very few suites or no professional management, so speak to your mortgage broker before you make an offer, not after. And check that your own suite insurance policy matches what the corporation’s policy does and does not cover.

Living just off Dundas West

This stretch of Palmerston puts you between Dundas West and College, with Kensington Market and Little Italy both within walking distance and Trinity Bellwoods Park to the southwest. Daily life here is walking to groceries, cafés and the streetcar rather than driving.

The 2018 feature noted one practical drawback: the rear laneway backs onto a restaurant. Visit in the evening and on a weekend to judge noise, smells and lane traffic for yourself. The outdoor space at the time was gravel with young trees, so expect to put some work into it if a garden matters to you. The data panel covers transit, schools and parks in more detail.

How to think about price here

There were no suites listed for sale or rent when I checked, and condos.ca does not publish a building average. With only three suites, sales happen rarely, and any single sale says a lot about that suite and very little about a building average.

The more useful comparison is not other condos but houses. A suite of about 1,600 square feet over several levels, with parking, competes with semi-detached and row houses on the surrounding streets. When I price a suite here, I compare it with recent townhouse and semi sales nearby and adjust for the condo structure, the lack of a full lot and the shared decision-making. A newer interior and low fees count in the suite’s favour; a gravel yard and a lane behind a restaurant count against it.

If fees are still nil or very low, that helps your monthly cost, but factor in your share of insurance and any reserve contributions. For sold figures, see the data panel or ask me for a building sold report.

Building specifications

Jatin’s honest take on 161 Palmerston Avenue Condos

161 Palmerston Avenue Condos — frequently asked questions

Looking at Queen West, Trinity-Bellwoods, Kensington and Little Italy more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.