$559,000

$585,000For salePrice drop↓ $26,000 (4%)

#701 525 Adelaide Street West, Toronto (Waterfront Communities) - Single Family for Sale

#701 525 Adelaide Street West, Toronto (Waterfront Communities), Ontario, M5V1T4

2 beds2 baths0 parking650 ft²$407/mo condo feeListed 22 days ago

Overview

This 2-bedroom, 2-bathroom condo in Toronto is for sale offering roughly 650 sq ft of space. Listed at $559,000, it is attractively priced about 11% below the $629,900 median asking price in Toronto. It has been on the market 22 days, fresher than the Toronto average of 57 days.

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Description

Presenting an exceptional condo that perfectly combines prime location, thoughtful layout, and top-tier amenities. Ideally situated just moments from the vibrant King W & Queen W neighbourhoods, this beautifully designed home showcases an efficient floor plan with no wasted space. Located on the quiet courtyard side, it offers a peaceful living experience.This spacious 627 sq. ft unit features 1 bedroom, a den, 2 full bathrooms, and a balcony. Upon entering, you're greeted by abundant natural light streaming in from the south-facing windows, creating a welcoming and warm ambiance. The living and dining rooms are combined allowing for great entertaining and laminate floors that continue throughout the suite. The modern kitchen boasts full-sized stainless steel appliances and elegant stone countertops.The primary bedroom boats feature wall, a 4-piece ensuite bathroom and double closet.The generous balcony serves as a peaceful outdoor retreat, ideal for morning coffee or evening relaxation. Thoughtful storage solutions throughout ensure a clutter-free and organized living space.The private den, is complete with a built-in desk and provides the perfect spot for a home office. The second bathroom is enhanced with a sleek glass shower wall and Moen fixtures. A prime location with a Walkscore of 100 - everything you need is just steps away, including St. Andrews Park, 24-hour streetcars, Food Emporium, the Downtown Core, Liberty Village, and Billy Bishop Airport. Pictures are from previous listing (id:66096)

Property Details

MLS®: C14079784
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 1 above · 1 below
Bathrooms: 2
Parking: 0
Interior Size: 650 ft²
Basement: None
Heating: Heat Pump, Natural gas
Cooling: Central air conditioning
Garage: Garage
Fireplace: Yes
Condo Fee: $407/mo
Fee Includes: Common Area Maintenance, Heat, Insurance
Ownership: Condo/Strata
Property Tax: $2,714.72/yr
Listed: 22 days ago

Rooms

Main level

Living room: 4.27 x 2.78 meters
Dining room: 4.27 x 2.77 meters
Kitchen: 3.04 x 2.16 meters
Primary Bedroom: 3.33 x 2.48 meters
Den: 2.89 x 2.81 meters
Other: 2.93 x 1.56 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, Microwave, Window Coverings
Flooring: Laminate
Exterior: Brick
Lot Features: Balcony, In suite Laundry

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

22d

Toronto (Waterfront Communities) listings, avg age

57d

Price / ft²

$861

List price

$559K

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 (Waterfront Communities) has been listed for 22 days, which is 35 days fresher than the city average of 57. Act while there is still low competition.

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Listed by CHESTNUT PARK REAL ESTATE LIMITED · EUGENE PALERMO

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5V)

This home lists at $559,000, about 6.1× the local median household income of $91,000.

Carrying it typically needs a household income of about $109,192 (20% down, 25-yr amortization, stress-tested) — roughly 20% above the area median.

Median household income: $91,000
Population: 59,912
Median age: 32
Owner / renter: 42% / 58%
Avg. household size: 1.6

Source: Statistics Canada, 2021 Census (FSA M5V)

$559,000· $861/ft²

For sale

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Full Cost Breakdown

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Down Payment5.53% · $30,900

Min 5.53%50%

Mortgage payment$2,928/mo

↳ CMHC premium ($21,124 capitalized)

Property tax (est.)$226/mo

Condo fee$407/mo

Total monthly$3,561

Cash Needed to Close

Down payment (5.53%)$30,900

Land transfer tax$15,310

Est. closing costs$4,177

Total cash needed$50,387

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