The building is sought-after for its style and strong balance sheet.
535 8th Ave. SE., Unit 501, Calgary
Asking price: $384,900
Selling price: $375,000
Taxes: $1,992 (2017)
Days on the market: Four
Listing agent: Christina Hagerty, Re/Max Realty Professionals
The action
Although this one-bedroom corner suite at Orange Lofts only had three scheduled visits in April, a busy open house with 40 visitors was a better indicator of its popularity.
“This style of loft – Corner 01 – rarely comes available and in fact, maybe a handful have traded hands in the past 10 years,” agent Christina Hagerty said.
“This is the best time to buy something unique because it will hold its value.”
The unit, which has 16-foot ceilings, is one of the largest in the building.
What they got
As with many two-storey units in a roughly 16-year-old building, this 829-square-foot loft has an industrial aesthetic with concrete finishes throughout and a metal staircase to the sleeping quarters.
However, the open principal room is rare for its double-height windows facing both east and south.
Clustered around the foyer is a four-piece bathroom, L-shaped cooking station and stacked laundry machines.
A locker and parking also belong to the unit. Monthly fees of $480 pay for utilities and use of a party room and rooftop terrace.
The agent’s take
“This is probably the second-largest unit in the building and it’s a very unique product for Calgary to have floor-to-ceiling, wall-to-wall windows on a corner with 16-foot ceilings,” Ms. Hagerty said.
“It’s a fifth-floor corner unit with fantastic light and … concrete walls, pillars, ceilings and floors. People just love that contemporary, minimalistic organic feel.”
The building is also sought-after for its style and strong balance sheet. “I’ve sold about 50 units in the building over the years … and everyone’s been extremely happy,” Ms. Hagerty said. “There have been no special assessments and they have a healthy reserve [fund].”