1 Sun Yat Sen Boulevard 263

Milliken Mills East, Markham, ON L3R 5K9

$399,900

About This Property

Attn : Seniors/Seniors' Adult Children/investors *Priced to sell - list price well below market price *Mon Sheong Court, demand seniors residence *Original owner *N-O-T Estate Sale *Seller moved to bigger unit in same building *670 sf, 1 BR/1 Bath unit as per plan * Bright, functional layout * Low floor, no elevator problem * Condo-style life lease senior residence designed for 55+ independent seniors, NOT to be confused with Long Term Care Centre *Suites equipped w/safety features for seniors, e.g. panic button *24/7 concierge/security *Recreation facilities: Dining rm, mahjong/games rm, exercise rm, media/karaoke rm, library, pharmacy, doctor office, spa *Roof garden on 9/F *Lots of rec programs: tai-chi, line dance, bridge, bingo, Cantonese opera, badminton hobby group, Karaoke workshop, religious group, morning/evening exercise, coffee mornings & more *Life Lease unit, Buyer can be 18+, One resident must be 55+, 2nd resident must be 18+ *Maintenance fee incl: Hydro, heat, central air, water *Upgraded laminate floor (LR/DR/Kit/BR) *Advantages of buying life lease senior housing: (1) Lower property tax (2) No land transfer tax (3) Buyer can register interest in life lease on bldg (4) Owner can sell/lease at market price in the future (5) Ability to bequeath unit to beneficiary *Senior housing offers best of both worlds: For end user: Canada's senior population is expected to hit 5.3 million over the next 10 years, growing by 1.7 million during that period" *Yet there is a stark shortage of new seniors housing residences being developed "Developers not building enough senior housing". For investor: "Investment in seniors housing soaring", "senior housing is projected a higher net operating income growth than many other real estate class through 2030", quoted from articles on "Investment in seniors housing soaring", "A Big Year for Seniors Housing Investment : 2026 To Be Even Better", "Is Canada Entering A "Golden Ear" For Investing in Seniors Housing? (see attach)