Oasis, 1700 Eglinton Ave E: All-Inclusive Fees by the Golden Mile

Oasis at 1700 Eglinton Avenue East is one of the more affordable ways to own a full-sized two-bedroom in this part of the city. The fee is high per square foot, but it covers almost every utility you would otherwise pay. And the neighbourhood to the east is about to change more than almost any other stretch of Eglinton. I’m Jatin Dua, RE/MAX Quantum Realty.

An all-inclusive building on a changing corner

Oasis sits on Eglinton just west of Victoria Park Avenue, which is the old line between North York and Scarborough. It is a mid-sized tower by today’s standards: 12 storeys and 212 suites, finished in 2000, with a concierge and security staff at the front desk.

Condos.ca lists the developer as 779857 Ontario Inc., a numbered company. That is common for buildings of this era and tells you little about who actually built it. I could not confirm the builder or architect from a reliable source, so I am not going to guess. What matters more at 26 years old is how the corporation has run the building since.

What sets Oasis apart from most buildings its age is the fee structure. Very few condos in Toronto still bundle hydro into the fee, and this one does, along with heat, air conditioning, water and parking.

Two-bedrooms that are actually two-bedroom size

Condos.ca puts the suite range at about 580 to 1,261 square feet. The three suites listed for sale when I checked were all two-bedrooms in the 900 to 999 square foot band, which is a good size for a family or for two people who both work from home.

That size is the core of the value case. In my experience, many new two-bedrooms along Eglinton come in closer to 700 square feet, with a narrow living room and a kitchen along one wall. Here you are typically getting more room in every direction, along with the trade-offs of a 2000 layout: closed kitchens, smaller windows and more hallway.

Condition varies widely in a building this age. Some suites have new kitchens and flooring, and others are close to original. Price the renovation you would need into your offer, and do not pay a renovated price for an original suite. Ask what work has been done, when, and whether the corporation approved any changes to plumbing or flooring.

Reading a fee of about $1.05 a square foot

The active listings showed fees of roughly $986 to $1,026 a month, which works out to about $1.05 per square foot. On paper that is high, well above what most newer buildings quote.

The comparison is misleading until you add utilities back. Oasis covers heat, hydro, air conditioning, water and parking. At a newer building you would pay hydro, often a separate heating and cooling bill, and frequently a parking charge on top of the quoted fee. Once you add those back, the gap gets much smaller.

The risk with bulk utilities is that owners share every increase in energy costs, and there is no reward for using less. Ask the property manager how the utility budget has moved over the past few years, and whether the board has looked at suite metering. A fee that has risen steadily with energy costs tells you more than the current number does.

The Golden Mile is starting next door

East of Victoria Park, the City’s Golden Mile Secondary Plan covers the parcels along Eglinton Avenue East as far as Birchmount Road. Council passed it to manage a large wave of density around the Eglinton Crosstown LRT, which is now Line 5.

The proposals are large. Choice Properties has proposed about 3,770 condo units in ten towers of 25 to 48 storeys on the Golden Mile Shopping Centre site, built in phases starting at Victoria Park and Eglinton. Further east, Samuel Sarick has proposed buildings of 10 to 53 storeys with about 2,777 units, in four phases, at 1911 to 1921 Eglinton Avenue East.

For owners at Oasis, that means years of construction across the street, then far more shops, services and neighbours within walking distance. It also means a lot of new condo supply, though most new towers lean toward smaller suites, so a 950-square-foot two-bedroom here should stay a distinct product rather than a direct competitor. The panel shows the nearest Line 5 stop, schools and Walk Score.

Low price per foot, high fee per foot

Condos.ca puts the building average at about $545 per square foot. That is low for Toronto and reflects the building’s age, its location east of the Don Valley and the high fee, which buyers price into what they will pay.

Three suites were listed for sale when I checked, asking between $438,000 and $481,000, with fees of about $986 to $1,026 a month. That puts a full-sized two-bedroom within reach of buyers who would otherwise be looking at a one-bedroom in a new building.

The value question is the total monthly cost, not the purchase price alone. Add your mortgage payment to the fee and compare that with a new suite’s mortgage, fee, hydro and parking. In many cases Oasis comes out ahead, but only if the reserve fund is in good shape.

If you want to see what similar suites here have actually sold for, book a call and I will walk you through recent sales.

Building specifications

Amenities at Oasis Condos

A tennis court and a sauna are uncommon in a building of this size, and the concierge and security staff give the lobby a staffed feel. It is not a resort-style package, but it covers what most owners use, and the court is a real plus if you play. Ask how the court is booked and what condition it is in, since outdoor courts need resurfacing every so often and that cost comes out of the reserve fund.

Jatin’s honest take on Oasis Condos

Oasis Condos — 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.