Mayfair on the Green IV, 480 McLevin Ave: Pool, Tennis and Big Suites

Mayfair on the Green IV is the building I bring up when a buyer tells me their budget and asks whether a family-sized condo in Toronto is still possible. At 480 McLevin Avenue in Malvern, this 1994 mid-rise has suites up to about 1,450 square feet, an indoor pool and a tennis court, at a price per foot well under half of downtown. The question is the fee, and I’ll be straight about it. I’m Jatin Dua, RE/MAX Quantum Realty.

The fourth and smallest of the Mayfair buildings

Korank Properties built a series of condominiums under the Mayfair on the Green name along McLevin Avenue. The first, at 400 McLevin, dates from 1991 and is a 19-storey tower with about 222 suites. Others stand at 410 and 430 McLevin, the latter sometimes listed as Mayfair by the Green. This one, number IV at 480, came last, in 1994, and it is the most modest in scale at nine storeys and 139 suites.

That smaller size is the reason I like it. A nine-storey building with 139 suites has fewer people per elevator and a quieter lobby than the towers around it, while still being large enough to carry a pool and a tennis court in its budget. It is a mid-rise with tower-style amenities.

Each Mayfair building is its own corporation, so 480 McLevin has its own board, budget and reserve fund. Don’t assume the condition of one tells you about the others. Ask the property manager whether any facilities are shared between phases, because shared costs and agreements belong in your review.

Suites built for families

Suites on record run from about 649 to 1,458 square feet. The listings I saw were two- and three-bedroom suites, which matches the building’s original purpose: housing for families and owner-occupiers in a planned suburb, not compact investor units.

That size range is the core of the value case. A three-bedroom condo of well over 1,000 square feet is rare in the city at any price, and here it costs less than a small one-bedroom in many downtown buildings. If you have children or a parent living with you, that matters more than any finish.

Expect 1990s layouts: separate rooms, real hallways and kitchens that may or may not have been updated. Renovation quality varies from suite to suite, so price each one on its condition. An original kitchen and bathroom are fine if the price reflects them.

Why the fee looks high, and what it covers

Fees on the three suites listed when I checked ranged from about $780 to $1,090 a month. In absolute terms that is a large monthly bill, and it is the number buyers react to first, even though the suites are large enough that the cost per square foot is less dramatic than the total suggests.

The inclusions explain much of it. Heat, air conditioning, water, building insurance, parking and the common elements are covered. An indoor pool and a tennis court also cost money to run every month. Hydro is not on the list, so budget for it separately.

Low price per foot and a high fee often go together in older suburban buildings, and the fee is where the real cost of ownership sits. When you compare with a newer building, add the parking charge, heating bill and lack of a pool back in. Then read the budget to see whether fees have been rising faster than inflation.

Malvern, then and now

Malvern was farmland for more than a century before federal housing agencies assembled it for a planned community. The first residents of modern Malvern arrived in 1972, and the neighbourhood grew into one of the most diverse and youngest communities in Canada, with families from the Caribbean and South Asia making up large parts of it.

Malvern Town Centre, a late-1980s mall, is the local shopping anchor, with a supermarket and a gym. Redevelopment plans for the mall site have proposed condo towers and a new park, which would bring more housing and possibly more competition for resale suites over time. The Toronto Zoo and Rouge Park are close by, which is a genuine draw for families.

Transit is the long-term question in this corner of the city. The city has planned the Eglinton East LRT from Kennedy station to Malvern, and Metrolinx has studied extending Line 4 Sheppard eastward. Neither is here yet, so buy for today’s bus service and treat any future line as a bonus.

Pricing: some of the lowest per square foot in Toronto

The building average sits around $457 per square foot on condos.ca. That is among the lowest figures you will find for a condominium anywhere in the city, and it reflects both the age of the building and Malvern’s distance from the core.

Three suites were listed for sale when I checked, with asking prices ranging from $449,000 to $614,999. For larger suites, that is entry-level money by Toronto standards, and it is why first-time buyers with families look here.

Compared with a newer Scarborough building such as Haven on the Bluffs, a 2019 condo in Cliffside that averages around $708 per square foot, the discount here is large. Part of that discount is the building’s age and part is the location, so think about how long you plan to stay. Buyers who hold for years tend to be well served; buyers who need to sell quickly may find the pool of purchasers is narrower.

Low price per foot is not automatically a bargain. Your total monthly cost is mortgage plus a fee that can approach four figures, so run both before you fall for the square footage. If you want to see how recent trades have gone, my building sold report is the place to start.

Building specifications

Amenities at Mayfair on the Green IV

An indoor pool, a tennis court, a gym and a sauna in a 139-suite building is a generous package, and for a family it can replace a community centre membership. Security staff and an underground garage round it out; ask how old the pool equipment is, since that is one of the costlier items to replace.

Jatin’s honest take on Mayfair on the Green IV

Mayfair on the Green IV — frequently asked questions

Looking at Scarborough Bluffs, West Hill, Guildwood, Woburn, Malvern and Rouge more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.