$724,000

$778,000For salePrice drop↓ $54,000 (7%)

#3901 488 University Avenue, Toronto (Kensington-Chinatown) - Single Family for Sale

#3901 488 University Avenue, Toronto (Kensington-Chinatown), Ontario, M5G0C1

2 beds2 baths0 parking650 ft²$641/mo condo feeListed 68 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 68 days, fresher than the Toronto average of 81 days.

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Description

Experience elevated downtown living at 488 University Avenue. This exceptional 2-bedroom, 2-bathroom residence offers soaring 10-foot ceilings, floor-to-ceiling windows and breathtaking, unobstructed south-facing skyline views. Step onto the private 115 sq. ft. balcony-an ideal setting for morning coffee or relaxing at the end of the day.The sleek, modern kitchen features quartz countertops, European-style built-in appliances and upgraded cabinetry that provides valuable additional storage. The original built-in microwave space has been thoughtfully replaced with three extra drawers. The bright, open-concept living and dining area is filled with natural light, while dimmable lighting in the kitchen and hallway creates the perfect ambience.Both bedrooms are generously sized and enhanced with custom-built closets. The second bedroom features a frosted sliding door that provides privacy while allowing natural light to flow through. The primary suite is a serene retreat with motorized blackout blinds and a spa-inspired ensuite bathroom. Additional upgrades include a custom hallway closet, an LED mirror in the guest bathroom, a smart Ecobee thermostat and a brand-new all-in-one washer and dryer installed in 2025.Residents enjoy five-star amenities, including a fitness centre, indoor pool and rooftop terrace. Ideally located steps from St. Patrick Subway Station, Hospital Row, the University of Toronto, Toronto Metropolitan University, Queen's Park and the Financial District, with outstanding dining, shopping, culture and entertainment at your doorstep.Downtown Toronto living at its absolute finest. (id:66096)

Property Details

MLS®: C13725650
Property Type: Single Family
Zoning: Residential
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 2
Parking: 0
Interior Size: 650 ft²
Basement: None
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage
Pool: Yes
Condo Fee: $641/mo
Fee Includes: Common Area Maintenance, Insurance
Ownership: Condo/Strata
Property Tax: $4,074.42/yr
Listed

Rooms

Flat

Dining room: 4.29 x 2.74 meters
Kitchen: 3.28 x 3.79 meters
Bedroom 2: 3.05 x 2.67 meters
Bathroom
Bathroom

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

Features

Appliances: Oven, Microwave
Flooring: Hardwood
Foundation: Concrete
Exterior: Steel, Concrete
Lot Features: Elevator, Balcony

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

68d

Toronto (Kensington-Chinatown) listings, avg age

81d

Price / ft²

$1,115

List price

$724K

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 68 days, which is 13 days fresher than the city average of 81. Act while there is still low competition.

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Listed by FIRST CLASS REALTY INC. · RONALD HUANG

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5G)

This home lists at $724,000, about 10.7× the local median household income of $67,500.

Carrying it typically needs a household income of about $141,423 (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)

$724,000· $1,115/ft²

For sale

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Full Cost Breakdown

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Down Payment6.55% · $47,400

Min 6.55%50%

Mortgage payment$3,751/mo

↳ CMHC premium ($27,064 capitalized)

Property tax (est.)$340/mo

Condo fee$641/mo

Total monthly$4,732

Cash Needed to Close

Down payment (6.55%)$47,400

Land transfer tax$21,910

Est. closing costs$4,672

Total cash needed$73,982

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