$724,999

For sale

#3301 488 University Avenue, Toronto (Kensington-Chinatown) - Single Family for Sale

#3301 488 University Avenue, Toronto (Kensington-Chinatown), Ontario, M5G0C1

2 beds2 baths0 parking650 ft²$616/mo condo feeListed 55 days ago

Overview

This 2-bedroom, 2-bathroom condo in Toronto is for sale offering roughly 650 sq ft of space. It has been on the market 55 days, fresher than the Toronto average of 81 days.

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Description

Live In The Luxurious & Exclusive Residences Of 488 University. This Stunning 2 Bed 2 Bath W/ Contemporary Finishes, High Flr W/ Unobstructed North View Offers A Spacious & Functional Layout W/ 689 SF + 115 SF Oversized Balcony, 9 Ft Ceilings W/ Pot Lights, Floor To Ceiling Windows. Top Of The Line Finishes W/ Spa Like Baths, Carrera Marble-Clad Master Bath W/ Standing Showers; Open Concept Designer Kitchen With Marble Countertops & High End Liebherr & AEG Appliances, Custom Soft-Closing Cabinetry, Engineered Hardwood Throughout. Prime Location W/ Direct Access To St-Patrick Subway Stn. Walk To Hospitals, Financial District, Eaton Centre, U Of T, OCAD, Ryerson, Yorkville, Queens Park, City Hall. Steps to Shopping, Cafes, Museums, Parks, Galleries, And So Much More! (id:66096)

Property Details

MLS®: C13776870
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 2
Parking: 0
Interior Size: 650 ft²
Basement: None
Heating: Forced air, Electric
Cooling: Central air conditioning
Garage: Garage, Underground
Pool: Yes
Condo Fee: $616/mo
Fee Includes: Common Area Maintenance, Heat, Insurance
Ownership: Condo/Strata
Property Tax: $4,004/yr
Listed: 55 days ago

Rooms

Main level

Bedroom: 2.73 x 3.05 meters
Bedroom 2: 2.74 x 2.99 meters
Kitchen: 3.32 x 3.81 meters
Living room: 2.74 x 4.3 meters

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Appliances: Washer, Refrigerator, Sauna, Dishwasher, Oven, Dryer, Microwave, Cooktop, Oven - Built-In
Exterior: Concrete
Lot Features: Balcony, Carpet Free

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

55d

Toronto (Kensington-Chinatown) listings, avg age

81d

Price / ft²

$1,116

List price

$725K

Homes here sell faster than most markets

Sold homes in this market spent an average of 33 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell below asking price

Homes in this market sold for an average of 94.6 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This 2-bed single family in Toronto (Kensington-Chinatown) has been listed for 55 days, which is 26 days fresher than the city average of 81. Act while there is still low competition.

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Listed by CENTURY 21 LEADING EDGE REALTY INC. · RITWIK UBAN

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5G)

This home lists at $724,999, about 10.7× the local median household income of $67,500.

Carrying it typically needs a household income of about $141,618 (20% down, 25-yr amortization, stress-tested) — roughly 110% above the area median.

Median household income: $67,500
Population: 9,751
Median age: 30.8
Owner / renter: 30% / 70%
Avg. household size: 1.7

Source: Statistics Canada, 2021 Census (FSA M5G)

$724,999· $1,116/ft²

For sale

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Full Cost Breakdown

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Down Payment6.55% · $47,499.90

Min 6.55%50%

Mortgage payment$3,756/mo

↳ CMHC premium ($27,100 capitalized)

Property tax (est.)$334/mo

Condo fee$616/mo

Total monthly$4,706

Cash Needed to Close

Down payment (6.55%)$47,500

Land transfer tax$21,950

Est. closing costs$4,675

Total cash needed$74,125

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