$399,900

For sale

#508 770 Bay Street, Toronto (Bay Street Corridor) - Single Family for Sale

#508 770 Bay Street, Toronto (Bay Street Corridor), Ontario, M5G1N6

1 bed1 bath0 parking550 ft²$512/mo condo feeListed 11 days ago

Overview

This 1-bedroom, 1-bathroom condo in Toronto is for sale offering roughly 550 sq ft of space. Listed at $399,900, it is attractively priced about 40% below the $672,000 median asking price in Toronto. It has been on the market 11 days, fresher than the Toronto average of 60 days.

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Description

Welcome to Lumiere Condominiums at 770 Bay Street, An Unbeatable location just steps to College Subway Station and TTC, Walking Distance to the PATH network, University of Toronto, Toronto Metropolitan University, Queen's Park, Yorkville, the Financial District, Eaton Centre, and the premier shopping along Bloor Street. This South Facing, Spacious One Bedroom Unit featuring soaring 9-ft ceilings, engineered hardwood flooring, floor-to-ceiling windows, and a bright, open-concept kitchen and living area. Residents also enjoy an impressive array of resort-inspired amenities, including 24-hour concierge, visitor parking, fitness center, indoor swimming pool, sauna, yoga studio, theatre, party room, guest suites, and a spectacular rooftop terrace with BBQs.An outstanding opportunity for end users seeking vibrant downtown living or investors looking for a centrally located property with excellent tenant appeal. (id:66096)

Property Details

MLS®: C14114240
Property Type: Single Family
Bedrooms: 1
Beds (above / below): 1 above · 0 below
Bathrooms: 1
Parking: 0
Interior Size: 550 ft²
Basement: None
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage, Underground
Condo Fee: $512/mo
Fee Includes: Common Area Maintenance, Heat, Water, Insurance
Ownership: Condo/Strata
Property Tax: $3,099.93/yr
Listed: 11 days ago

Rooms

Flat

Living room: 4.96 x 4.24 meters
Dining room: 4.96 x 4.24 meters
Kitchen: 4.96 x 4.24 meters
Bedroom: 3.05 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

Flooring: Hardwood
Exterior: Concrete
Lot Features: Balcony, Carpet Free, In suite Laundry

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

11d

Toronto (Bay Street Corridor) listings, avg age

60d

Price / ft²

$728

List price

$400K

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 1-bed single family in Toronto (Bay Street Corridor) has been listed for 11 days, which is 49 days fresher than the city average of 60. Act while there is still low competition.

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Listed by HOMELIFE NEW WORLD REALTY INC. · EMMY RUAN

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5G)

This home lists at $399,900, about 5.9× the local median household income of $67,500.

Carrying it typically needs a household income of about $78,114 (20% down, 25-yr amortization, stress-tested) — roughly 16% 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)

$399,900· $728/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $19,995

Min 5%50%

Mortgage payment$2,106/mo

↳ CMHC premium ($15,196 capitalized)

Property tax (est.)$258/mo

Condo fee$512/mo

Total monthly$2,876

Cash Needed to Close

Down payment (5%)$19,995

Land transfer tax$8,947

Est. closing costs$3,700

Total cash needed$32,642

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