$499,999

For sale

#620 55 Merchants Wharf, Toronto (Waterfront Communities) - Single Family for Sale

#620 55 Merchants Wharf, Toronto (Waterfront Communities), Ontario, M5A0P2

1 bed1 bath0 parking$495/mo condo feeListed 127 days ago

Overview

This 1-bedroom, 1-bathroom condo in Toronto is for sale. Listed at $499,999, it is attractively priced about 21% below the $629,900 median asking price in Toronto.

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Description

Welcome to the most affordable opportunity to own in one of Toronto's premier waterfront communities by Tridel. This move-in ready suite offers the perfect blend of lifestyle, location, and long-term value-ideal for first-time buyers, professionals, or investors looking to enter the market with confidence.Wake up to southeast views of Lake Ontario, soaring ceilings, and a thoughtfully designed layout that maximizes every square foot. The modern kitchen features sleek finishes and generous storage, while the bright living space offers the flexibility to comfortably work from home.Residents enjoy resort-style amenities comparable to a five-star hotel, including a 24-hour concierge, rooftop pool, fitness centre, yoga and spinning studios, theatre room, and library.Located along Toronto's vibrant waterfront, with cafes, restaurants, boardwalk paths, and downtown conveniences just steps away, this suite offers an exceptional chance to own in a luxury building-often for a monthly cost comparable to renting.A rare opportunity to enter the waterfront market and start building equity in one of the city's most desirable neighbourhoods. (id:66096)

Property Details

MLS®: C13513972
Property Type: Single Family
Bedrooms: 1
Beds (above / below): 1 above · 0 below
Bathrooms: 1
Parking: 0
Basement: None
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage, Underground
Condo Fee: $495/mo
Fee Includes: Common Area Maintenance, Insurance
Ownership: Condo/Strata
Property Tax: $2,490/yr
Listed: 127 days ago

Rooms

Flat

Living room: 3.2 x 3.05 meters
Dining room: 3.48 x 2.79 meters
Kitchen: 3.48 x 2.79 meters
Bedroom: 2.35 x 2.35 meters
Den: 1.8 x 1.55 meters

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

Features

Exterior: Concrete
Lot Features: Balcony

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

127d

Toronto (Waterfront Communities) listings, avg age

57d

List price

$500K

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 (Waterfront Communities) 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 REAL BROKER ONTARIO LTD. · Geraldine Pedrosa

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5A)

This home lists at $499,999, about 7.0× the local median household income of $71,000.

Carrying it typically needs a household income of about $97,667 (20% down, 25-yr amortization, stress-tested) — roughly 38% above the area median.

Median household income: $71,000
Population: 48,978
Median age: 36.4
Owner / renter: 35% / 65%
Avg. household size: 1.8

Source: Statistics Canada, 2021 Census (FSA M5A)

$499,999

For sale

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Full Cost Breakdown

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Down Payment5% · $24,999.95

Min 5%50%

Mortgage payment$2,633/mo

↳ CMHC premium ($19,000 capitalized)

Property tax (est.)$208/mo

Condo fee$495/mo

Total monthly$3,336

Cash Needed to Close

Down payment (5%)$25,000

Land transfer tax$12,950

Est. closing costs$4,000

Total cash needed$41,950

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