Assignment Condo for Sale
A Rare 3-Bedroom Opportunity with Built-In Equity Toronto’s condo market rarely offers genuine value plays, especially in well-located, transit-connected neighborhoods. Even rarer are three-bedroom assignments priced below original purchase value. This is exactly what makes this Reina Condos Distressed Assignment stand out. Located at 689 The Queensway, this oversized 3-bedroom, 2-bathroom suite spanning 1,175 square […]
Register below to secure your unit
Toronto’s condo market rarely offers genuine value plays, especially in well-located, transit-connected neighborhoods. Even rarer are three-bedroom assignments priced below original purchase value. This is exactly what makes this Reina Condos Distressed Assignment stand out.
Located at 689 The Queensway, this oversized 3-bedroom, 2-bathroom suite spanning 1,175 square feet delivers scale, flexibility, and long-term investment appeal. Combined with a reduced asking price of $960,000 versus the original $1,066,000, this opportunity provides immediate equity, strong rental appeal, and excellent resale positioning.
In a market where buyers are forced to compromise on space, layout, or location, this offering avoids all three.
Let’s break down why this is a strategic acquisition rather than just another condo listing.
This is a large-format urban condominium designed for families, professionals, and high-quality tenants who demand space, functionality, and modern living standards.
Core Property Details:
Project: Reina Condos
Assignment Type: Distressed Assignment
Size: 1,175 Sq. Ft.
Bedrooms: 3
Bathrooms: 2
Exposure: North West
Floor: 2
Address: 689 The Queensway, Toronto
Original Purchase Price: $1,066,000
Asking Price: $960,000
Parking: $45,000
Locker: $6,000
This pricing structure creates an instant $106,000 equity advantage, providing both downside protection and strategic flexibility.
The Queensway corridor has undergone a fundamental transformation over the past decade. What was once dominated by low-density commercial and industrial uses is now evolving into one of Toronto’s most dynamic mixed-use residential zones.
This transformation includes:
Intensified residential development
Transit infrastructure improvements
Waterfront revitalization
Commercial and retail expansion
Lifestyle-driven urban planning
The result is a neighborhood offering urban convenience without downtown congestion.
Residents at Reina Condos benefit from outstanding mobility:
TTC streetcar service along The Queensway
Fast access to Mimico GO Station
Quick connectivity to Gardiner Expressway and QEW
Direct commuting routes to Downtown Toronto, Etobicoke, and Mississauga
This transit advantage significantly enhances both daily living and long-term rental demand.
This location supports true urban living. Within walking distance, residents enjoy:
Grocery stores and specialty food shops
Cafés, restaurants, and bakeries
Fitness studios and wellness services
Humber Bay Shores waterfront parks and trails
Boutique retail and entertainment
This lifestyle convenience translates directly into higher tenant retention and stronger resale performance.
Reina Condos reflects modern architectural thinking that prioritizes:
Efficient floorplates
Clean contemporary aesthetics
Sustainable building systems
Durable material selections
Smart space utilization
Rather than chasing trendy gimmicks, the building focuses on long-term livability and timeless appeal.
Occupants benefit from carefully curated amenities that support daily comfort and lifestyle balance:
Fully equipped fitness centre
Social and co-working lounges
Secure entry systems
Bicycle storage
High-speed elevators
Professionally landscaped common areas
These features appeal directly to professional tenants and families seeking convenience and security.
At 1,175 sq. ft., this suite is a rare find in today’s Toronto condo market. Large layouts like this are increasingly scarce, particularly in transit-oriented developments.
This space enables:
Comfortable family living
Multi-workstation home office setups
Roommate-friendly rental configurations
Long-term tenant stability
Three-bedroom condos offer strategic advantages across multiple dimensions:
Higher rental income potential
Access to premium tenant segments
Superior resale liquidity
Greater market resilience
As urban families and professionals demand more space, three-bedroom layouts are positioned for strong long-term price appreciation.
North-west exposure provides:
Abundant natural light
Reduced summer heat gain
Comfortable year-round temperature balance
Improved living comfort
This orientation supports both energy efficiency and livability.
Original Price: $1,066,000
Asking Price: $960,000
This creates $106,000 in instant value, offering:
Downside protection
Improved financing leverage
Enhanced exit flexibility
Reduced overall risk exposure
This is precisely why Reina Condos Distressed Assignment opportunities deserve strategic attention.
Parking: $45,000
Locker: $6,000
These add-ons materially improve:
Rental desirability
Tenant quality
Resale attractiveness
Parking, in particular, remains a scarce commodity in west Toronto, providing consistent long-term value.
Distressed assignments typically arise when original buyers encounter financial or personal circumstances that prevent closing. This creates opportunities for new buyers to acquire assets below current market replacement cost.
Discounted acquisition price
Reduced competition
Faster transaction cycles
Increased upside potential
This Reina Condos Distressed Assignment combines all of these advantages within a high-quality development.
The Queensway corridor attracts:
Downtown professionals
Healthcare workers
Young families
Corporate renters
Remote workers seeking space
This creates high occupancy rates and rental stability.
Three-bedroom units generate:
Higher monthly rents
Longer tenant tenures
Lower vacancy risk
Better overall cash-flow stability
This layout is ideal for both traditional leasing and corporate rental strategies.
Ongoing public and private investment into west Toronto includes:
Transit system upgrades
Roadway improvements
Active transportation corridors
Waterfront enhancements
Each of these investments compounds long-term property value.
Toronto’s planning framework actively encourages:
High-density, transit-oriented development
Mixed-use neighborhoods
Sustainable urban living
This supports sustained demand for developments like Reina Condos.
Urban buyers are increasingly prioritizing:
Proximity to green space
Walkability
Transit access
Work-life balance
The Queensway corridor checks every box.
Acquire below market value, rent out, and benefit from:
Capital appreciation
Strong rental income
Mortgage amortization
Inflation hedge
Hold until market recovery and exit into a stronger demand environment, capturing:
Discount arbitrage
Market appreciation
Improved buyer sentiment
Lease short-term while monitoring market dynamics, then sell into peak conditions.
While Toronto real estate fundamentals remain strong, short-term volatility exists. This discounted acquisition provides pricing insulation, but conservative financial planning remains essential.
Ensure adequate capital for:
Closing costs
Interim occupancy expenses
Mortgage rate variability
Prudent cash management protects long-term returns.
This Reina Condos Distressed Assignment is ideally suited for:
High-net-worth investors
Family-oriented end-users
Professionals upgrading from smaller condos
Buyers seeking long-term urban real estate exposure
Large-format condos in prime transit corridors are becoming increasingly rare. Add in six-figure built-in equity, and this opportunity becomes even more compelling.
The Queensway corridor continues to mature into one of Toronto’s most livable west-end communities. Reina Condos sits directly within this transformation, offering long-term appreciation, rental stability, and lifestyle appeal.
If you are serious about strategic real estate acquisition, Reina Condos Distressed Assignment represents a high-conviction opportunity.
300 Richmond St W #300, Toronto, ON M5V 1X2
inquiries@Condoy.com
(416) 599-9599
We are independent realtors® with Home leader Realty Inc. Brokerage in Toronto. Our team specializes in pre-construction sales and through our developer relationships have access to PLATINUM SALES & TRUE UNIT ALLOCATION in advance of the general REALTOR® and the general public. We do not represent the builder directly.
