60 Old Mill Road: A Four-Suite Condo Beside the Humber and the Old Mill

60 Old Mill Road is a condominium with four suites. That is not a typo, and it changes almost everything about owning here. You get an address on one of the most attractive streets in Etobicoke, beside the Old Mill and the Humber valley, with three neighbours instead of three hundred, and almost no one walking past your door. You also become, in effect, one quarter of the board. I’m Jatin Dua, RE/MAX Quantum Realty.

Four suites, one corporation

Condos.ca records 60 Old Mill Road as a low-rise building with four suites, completed in 1977 by Fiat Developments and registered that April as York Condominium Corporation No. 321. That makes it one of the smallest condominium corporations I know of in west Toronto.

Condos.ca lists the building as one storey. I could not confirm the built form from any other source, so walk the property before you rely on that. It may be a single-level building or a small cluster of attached homes, and the floor plan of the suite you are buying is what matters.

The building is listed as managed by Del Property Management. In a corporation this small, a professional manager is valuable: it handles the insurance, the bookkeeping and the contractors, which would otherwise fall to four owners.

The declaration and rules matter just as much as in a big building, and arguably more. Read what they say about leasing, alterations and the use of the outdoor areas, because with four owners one person’s renovation or tenant affects everyone.

What a four-suite condo is really like to own

In a tower, you can ignore the board if you want to. Here you cannot. With four suites, every decision about the roof, the driveway, the insurance renewal or a repair is effectively made by you and three neighbours. If you get along, that can be the most efficient condo governance in the city. If you do not, it can be the hardest.

Costs work differently too. A $40,000 roof in a 300-suite building is a small line in the budget; in a four-suite building it is split four ways. A small corporation’s reserve fund has to be large relative to its size to cover that, and if it is not, the gap shows up as a special assessment.

Insurance matters more than usual. Condos.ca lists building insurance in the fee, and the corporation’s policy, deductible and coverage limits will be in the status certificate. Read them closely and match your own unit policy to the deductible, because in a corporation this small one claim can have a large effect on every owner.

Old Mill Road and the Humber valley

Old Mill Road runs down to the Humber River at the Old Mill, the former mill site that became a tea garden in 1914 and grew into today’s inn and spa. ACO Toronto records that the first mill on this land, the King’s Mill, was built in 1793 as Toronto’s first industrial site. This is one of the oldest settled corners of the city.

Day to day, that means the Humber valley trails, the river and the Old Mill’s restaurant are on your doorstep, and the surrounding streets are mostly detached houses in the Kingsway. Old Mill subway station sits on its bridge over the river nearby. The panel on this page shows the walking time.

The streets here are hilly and leafy. That is the appeal, but it also means steep driveways and slower winter driving, so visit after a snowfall if you can.

Comparing it with the larger Old Mill Road buildings

If you are shopping this street, you will also see The Riverstone at 40 and 50 Old Mill Road and Riverhouse at the Old Mill at 30 Old Mill Road. Both are full-size condominium buildings with elevators, staff and shared amenities.

60 Old Mill Road is the opposite: no amenities beyond permission to barbecue, no concierge and no common facilities to fund. The fee covers much less, but each owner’s share of any repair is much bigger. Choose it for privacy and a house-like setting, not for services.

Pricing a building that almost never trades

There were no active listings at 60 Old Mill Road when I checked, and condos.ca has no average price per square foot for the building. With only four suites, years can pass between sales, so there is no reliable building-level price history.

To value a suite here, I would look at three things: recent sales of similar-sized suites in the nearby Old Mill Road buildings, recent sales of small houses and townhouses in the Kingsway South area, and the suite’s own condition. Expect to pay something between the two, with a premium for the setting and a discount for the size of the corporation.

The fee covers common elements, building insurance and parking, according to condos.ca. Heat, hydro and water are not listed, so ask the seller for a year of utility bills and add them to the monthly fee before you compare it with a larger building. The status certificate will show the current fee and the reserve fund balance.

Talk to your lender early as well. Some lenders look harder at very small condominium corporations, and an appraiser with no recent sales in the building has less to work with. Getting the financing confirmed before you firm up an offer is worth the extra few days.

Building specifications

Amenities at 60 Old Mill Road Condos

There is no amenity package, and that is part of the appeal. Your amenities are the Humber valley, the trails and the Old Mill down the road, and nobody’s fee is paying for a gym or a concierge.

Jatin’s honest take on 60 Old Mill Road Condos

60 Old Mill Road Condos — frequently asked questions

Looking at Humber Bay Shores, Mimico, the Queensway and central Etobicoke more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.