The Montebello — Rental Market Data

The Montebello registers an average lease rent of $2,420 per month, comparing against an overall competitive set average of $1,737 per month across established local benchmarks such as St. Joseph's Apartments, Imperial Suites, Olympia, and Mountainview Apartments. Individual competitor performance includes St. Joseph's Apartments at 118 St Josephs Drive reporting an average lease rent of $1,229 per month at $3.32 per square foot across an average of 370 square feet, Imperial Suites at 350 Concession St E averaging $2,300 per month at $2.08 per square foot across 1,106 square feet, Olympia at 150 Charlton Ave E averaging $1,790 per month at $3.18 per square foot across 653 square feet, and Mountainview Apartments at 325a James Street S averaging $1,629 per month at $2.91 per square foot across 597 square feet.

The Montebello establishes its value proposition through a realized lease rate of $2.98 per square foot across an average suite size of 811 square feet, aligning closely with the submarket average asking rate of $2.94 per square foot while trading at a slight discount to the broader submarket's historical lease baseline of $3.09 per square foot. Renters evaluating the building navigate trade-offs between modern construction efficiency and spatial scale, securing larger footprints averaging 811 square feet compared to older, more compact alternatives like St. Joseph's Apartments at 370 square feet ($3.32 per square foot) and Mountainview Apartments at 597 square feet ($2.91 per square foot), while offering more efficient pricing per square foot than high-density mid-century alternatives such as Olympia at $3.18 per square foot.

The Montebello delivers a streamlined residential experience centred around a shared laundry room, contrasting with the extensive recreational and security infrastructure found across established high-density competitors in the micro-market. While the subject building features essential on-site laundry facilities, nearby Olympia at 150 Charlton Ave E provides a comprehensive lifestyle package including a concierge and security service, a gym and fitness centre, an indoor pool, a sauna and steam room, a squash and racquetball court, a party and lounge room, a meeting room, a games and billiards room, a media and theatre room, a rooftop terrace, and an on-site convenience store. Similarly, properties like St. Joseph's Apartments and Mountainview Apartments incorporate concierge and security services alongside shared laundry rooms, while Imperial Suites features a dedicated BBQ area. This amenity differential positions The Montebello best for renters prioritizing modern construction timelines, larger average suite sizes, and straightforward maintenance over expansive, multi-facility recreational spaces.