$635,000

For sale

#708 505 Richmond Street West, Toronto (Waterfront Communities) - Single Family for Sale

#708 505 Richmond Street West, Toronto (Waterfront Communities), Ontario, M5V0P4

1 bed1 bath0 parking550 ft²$506/mo condo feeListed 44 days ago

Overview

This 1-bedroom, 1-bathroom condo in Toronto is for sale offering roughly 550 sq ft of space. Its $635,000 asking price sits right in line with the $629,900 median in Toronto. It has been on the market 44 days, fresher than the Toronto average of 57 days.

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Description

Welcome To Waterworks! Built On Top Of A 1930S Heritage Utility Building This Modern Boutique Building Combines Old Charm And Modern Design. This Stunning One Bedroom Suite Features West Facing Views, A 72 Sq/ft Balcony Off The Living Area, And A Locker, Sits Conveniently Btwn King And Queen West & Is Steps To Downtowns Finest Dining & Shopping. This Unit Boasts High, Smooth Ceilings, Pot Lights Throughout, Stainless Steel Appl. And Kitchen Island. Building Offers Amazing Facilities. First-Class Concierge, Gym, Large Party Room And One-Of-A-Kind Rooftop Garden, With 360 Downtown And CN Tower View, Food Hall Is Absolutely A Bonus To Have Downstairs With High-End Restaurants And Bars. Designed By Award Winning Cecconi Simone With The Finest Hardware And Finishes. Your Dream Location In Downtown Toronto! (id:66096)

Property Details

MLS®: C13818048
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: $506/mo
Fee Includes: Common Area Maintenance, Water, Insurance
Ownership: Condo/Strata
Property Tax: $2,707/yr
Listed: 44 days ago

Rooms

Main level

Kitchen: 3.67 x 3.2 meters
Living room: 3.2 x 3.2 meters
Primary Bedroom: 3.25 x 2.94 meters
Bathroom: 2.32 x 1.77 meters
Foyer: 3.8 x 1.27 meters

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

Features

Exterior: Steel, Brick Facing
Lot Features: Balcony

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

44d

Toronto (Waterfront Communities) listings, avg age

57d

Price / ft²

$1,156

List price

$635K

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) has been listed for 44 days, which is 13 days fresher than the city average of 57. Act while there is still low competition.

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Listed by BOSLEY REAL ESTATE LTD. · CLIVE MCLEAN

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5V)

This home lists at $635,000, about 7.0× the local median household income of $91,000.

Carrying it typically needs a household income of about $124,038 (20% down, 25-yr amortization, stress-tested) — roughly 36% 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)

$635,000· $1,156/ft²

For sale

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Full Cost Breakdown

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Down Payment6.06% · $38,500

Min 6.06%50%

Mortgage payment$3,307/mo

↳ CMHC premium ($23,860 capitalized)

Property tax (est.)$226/mo

Condo fee$506/mo

Total monthly$4,038

Cash Needed to Close

Down payment (6.06%)$38,500

Land transfer tax$18,350

Est. closing costs$4,405

Total cash needed$61,255

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