50 Lotherton, 940 Caledonia Rd: 744 Suites, Two Pools, Hydro Included

50 Lotherton is one of the cheapest ways to own a two-bedroom in Toronto, and the reason is in the numbers: 744 suites, built in 1972, with a fee that pays for almost everything including your hydro. It is a big, old, practical complex with two pools and a tennis court. Buy it with your eyes on the reserve fund, not the price tag. I’m Jatin Dua, RE/MAX Quantum Realty.

One corporation, many addresses

The first thing to understand is scale. YCC-46 covers 744 suites under one corporation, with addresses on Caledonia Road and along Lotherton Pathway, including 50 and 100 Lotherton Pathway. Listings use all of them, which confuses buyers searching online.

There is also a separate building next door at 200 Lotherton Pathway, which REW lists as Caledon Village Apartments. It is not the same property. Before you compare fees or prices, confirm which corporation a listing actually belongs to.

A corporation this large has advantages. Big projects are spread over hundreds of owners, so the cost per suite of a new roof or elevator is lower than in a small building. It also has drawbacks: decisions take longer, and a single bad budget year affects a lot of people.

Size also shapes daily life. With hundreds of households, you get a staffed security desk, a steady flow of residents in the halls and amenities, and a strong rental presence. Ask how many suites are leased and how busy the elevators are at rush hour before you decide it fits how you live.

Layouts: compact, practical, and some surprises

Suites run from about 371 to 932 square feet. Most of what sells here is two-bedroom suites in the 600 to 699 square foot band, which is small for two bedrooms by older standards but very efficient compared with a new one-plus-den.

At the top end, active listings at the time of writing included suites described as four bedrooms in the 800 to 999 square foot bands. That is an unusual configuration and it suggests multi-level or townhouse-style plans within the complex. Confirm the exact layout, number of floors and bathroom count with the floor plan before you count bedrooms.

Like most 1972 buildings, kitchens are closed rather than open, and condition varies enormously from suite to suite. Some are fully renovated, others are largely original. Price the difference honestly. A full kitchen and bathroom renovation in a suite this size is a real cost, and in an older building you should also budget for permits, board approval and noise rules on renovation hours.

Fees that include hydro, and why that changes the math

The fee here covers common elements, heat, hydro, building insurance, parking and water. Hydro is the unusual one. Most Toronto condos meter electricity per suite, so you pay it on top of your fee. Here, it is in.

Active listings carried fees from about $600 to roughly $990 a month, which worked out to about $1.02 per square foot. On paper that is high. Once you remove the hydro bill, the heating cost and a parking charge you would pay in a newer building, the gap narrows considerably.

The risk with bulk utilities is that the corporation absorbs energy price increases, and they show up in the next budget. Ask for the last five years of fee increases and look at what drove them.

Also ask whether the corporation has studied sub-metering. Some older buildings with bulk hydro have moved to individual meters over time, which shifts costs from the fee to the owner. Either way, it is worth knowing before you commit.

Living near Yorkdale and Caledonia

The complex sits on Caledonia Road in Yorkdale-Glen Park, between Eglinton and Lawrence. Daily life here is practical: Yorkdale Shopping Centre and the big-box stores along Dufferin are close, and Highway 401 and the Allen Road are quick to reach by car.

The surrounding streets are a mix of post-war houses, employment land and older apartment towers. It is not a destination neighbourhood, but it is changing. The Eglinton Crosstown runs to the south, and new transit lines tend to bring new development with them, so expect more construction in the area over the coming years.

Transit, schools, parks and walkability for this address appear in the data panel on this page.

Pricing: entry level, with lots of supply

Eight active sale listings at the time of writing were asking from about $299,000 to $399,900. For Toronto, that is about as low as two-bedroom ownership gets. At these prices, the monthly cost of owning, with the fee and a mortgage combined, is worth setting directly against what you pay in rent today for a comparable two-bedroom nearby, which is the comparison that brings most buyers here.

With eleven suites for sale at once, this is a buyer’s building. Supply this deep means you can negotiate, and you can afford to be selective about floor, exposure and condition. It also means a seller needs a well-prepared suite to stand out.

Compare against recent sales, not asking prices, and compare like for like: a renovated two-bedroom on a high floor and an original suite near the garage entrance are different products, even in the same square foot band. You can request a sold report for the building.

Building specifications

Amenities at 50 Lotherton

Two pools, indoor and outdoor, plus a tennis court and a sauna, is a recreation package almost no new building offers at any price. It is also expensive to run, and in a complex this old, the pools and their equipment are a line you should find in the reserve fund study.

Jatin’s honest take on 50 Lotherton

50 Lotherton — frequently asked questions

Looking at York Mills, Don Mills, Lawrence Park, Bathurst Manor and midtown-north Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.