Toronto Parking Spot Hits The Market For Six Figures & It'll Cost You More Than A Tesla
Not exactly pocket change.
18 Yorkville Avenue, Toronto. Right: A Tesla on the road.
Would you rather own a Tesla or a Toronto parking spot? Because apparently, someone thinks a parking spot should cost more than a luxurious car.
A parking spot that hit the market 116 days ago is on sale for $175,000, and it's absolutely bonkers.
The expensive spot is located at 18 Yorkville Avenue in Toronto, and according to the seller's post, the buyer must already own property in the building.
"Deeded Underground Full Size Parking Space. Large Suv Fits," the post on Realtor.ca reads. "Great opportunity to own your own parking or have a second spot ."
According to the seller, the vendor should sell it "for 200 per month for at least 1 year." So, if you were to do the math, it would take you around 73 years to make your money back... That doesn't seem like a brilliant idea. Does it?
Apparently, "local builders are charging more for only selected suites." So, if you charge $300 per month, you can make your money back in 49 years.
Another thing worth noting is the $55.41 monthly maintenance fee, which will cost you an additional $661 a year.
For context, according to Toronto Condo Team, "a parking space in a Toronto condo building can cost you somewhere between $30-$70K."
If you were wondering how much a Tesla costs, well, it's a lot less than this six-figure parking spot.
According to their website, the Model 3 with rear-wheel drive costs $54,990. However, if you were hoping to upgrade the Model 3 Tesla and get a dual motor all-wheel drive, that'll cost you $72,990.
You can technically get three Teslas for the price of this one Toronto parking spot. Yes, let that sink in for a moment.