$624,000

For sale

#506 88 Palace Pier Court, Toronto (Mimico) - Single Family for Sale

#506 88 Palace Pier Court, Toronto (Mimico), Ontario, M8V4C2

2 beds2 baths1 parking950 ft²$1,088/mo condo feeListed 98 days ago

Overview

This 2-bedroom, 2-bathroom condo in Toronto is for sale offering roughly 950 sq ft of space. Its $624,000 asking price sits right in line with the $650,000 median in Toronto.

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Description

PRICE REDUCTION. MOTIVATED SELLER!Experience stylish waterfront living in this beautifully upgraded 2-bedroom condo, where luxury finishes and an unbeatable location come together perfectly. The customized gourmet kitchen is a chef's dream, featuring quartz countertops with a large island, abundant cabinetry, and premium finishes. The dining room features custom built-in cabinetry and shelving, while the inviting living room showcases a double-sided fireplace (a vent-free, eco-friendly hearth fueled by renewable liquid bioethanol) and a walkout to a balcony finished with custom veranda tiles. The generous primary bedroom features a walk-in closet, additional custom cabinetry, and a beautifully renovated ensuite bathroom. The updated second bathroom includes a premium Electrolux front-load washer and dryer for added convenience. Residents enjoy amenities including a fitness centre with sauna, party room with a stunning lake view, guest suite, rooftop garden and bbq, and 24/7 concierge. Located just steps from the lake, parks, restaurants, cafes, the Martin Goodman Trail, and the Humber River Trail, this home offers the perfect balance of nature and city living. Commuters will appreciate easy access to the Gardiner Expressway, QEW, GO Transit, TTC streetcars, and buses. Offering sophisticated upgrades, amenities, and an exceptional waterfront lifestyle, this move-in-ready condo is a rare opportunity you won't want to miss. (id:66096)

Property Details

MLS®: W13625232
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 2
Parking: 1
Interior Size: 950 ft²
Basement: None
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage, Underground
Fireplace: Yes
Waterfront: Yes
Condo Fee: $1,088/mo
Fee Includes: Common Area Maintenance, Heat, Water, Insurance, Parking
Ownership: Condo/Strata
Property Tax: $3,000.18/yr

Rooms

Main level

Kitchen: 3.23 x 2.59 meters
Dining room: 3.35 x 3.05 meters
Living room: 3.66 x 3.05 meters
Primary Bedroom: 4.6 x 3.11 meters
Bedroom 2: 3.26 x 2.74 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, Dishwasher, Stove, Dryer, Window Coverings, Garage door opener remote(s)
Flooring: Vinyl
Exterior: Concrete, Brick
Lot Features: Balcony, Carpet Free, In suite Laundry, Guest Suite

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

98d

Toronto (Mimico) listings, avg age

58d

Price / ft²

$657

List price

$624K

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 (Mimico) is available now. Want me to connect you with the agent or keep you posted on any price updates?

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Listed by CENTURY 21 MILLENNIUM INC. · TAEKO YAMANOUCHI

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M8V)

This home lists at $624,000, about 7.9× the local median household income of $79,000.

Carrying it typically needs a household income of about $121,889 (20% down, 25-yr amortization, stress-tested) — roughly 54% above the area median.

Median household income: $79,000
Population: 44,144
Median age: 40
Owner / renter: 49% / 51%
Avg. household size: 1.9

Source: Statistics Canada, 2021 Census (FSA M8V)

$624,000· $657/ft²

For sale

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Full Cost Breakdown

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Down Payment5.99% · $37,400

Min 5.99%50%

Mortgage payment$3,252/mo

↳ CMHC premium ($23,464 capitalized)

Property tax (est.)$250/mo

Condo fee$1,088/mo

Total monthly$4,590

Cash Needed to Close

Down payment (5.99%)$37,400

Land transfer tax$17,910

Est. closing costs$4,372

Total cash needed$59,682

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