$849,000 - 1001 Bay Street Unit 403, Downtown Toronto
Condo for Sale in Downtown Toronto
45 days on market- MLS Number
- C13073708
- Property Type
- Condo
- Status
- active
- Days on Site
- 45
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,000 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- North East
- Balcony
- None
- Listing Brokerage
- ROYAL LEPAGE SIGNATURE REALTY
Bright & Spacious Downtown Corner Condo - Bay & Bloor. Welcome to this beautifully updated corner suite in the heart of downtown Toronto, surrounded by trees. This bright and airy condo offers 2 spacious bedrooms, 2 full bathrooms, a solarium, 1 parking spot, 1 locker, and over 1100 sq ft of well-designed living space. Enjoy a functional open-concept layout with floor-to-ceiling windows that fill the home with natural light. The living and dining areas flow seamlessly into the solarium-perfect for a home office, lounge, or reading space. The kitchen features stainless steel appliances, a subway tile backsplash, ample cabinetry, and a breakfast bar for casual dining or entertaining guests. The primary bedroom features a 4-piece ensuite and plenty of closet space, while the second bedroom is generously sized with a large closet and access to a beautiful 3-piece bathroom with a walk-in shower. Additional features include ensuite laundry and ample storage throughout. This meticulously maintained unit is move-in ready and ideal for end-users or investors alike. Building amenities include a 24-hour concierge, indoor pool, squash courts, visitor parking, fitness centre, party room, and more. Location highlights: steps to Bay & Bloor, U of T, Yorkville, the Yonge subway line, shops, restaurants, parks, hospitals, and top-rated schools. With a walk score of 99, everything you need is right at your doorstep. Don't miss this opportunity to own a rare unit in one of Toronto's most vibrant neighbourhoods. Virtually staged. Extras: stainless steel fridge, stove, dishwasher, washer, dryer, all electrical light fixtures, window coverings. Parking and locker included.
Estimate your monthly payments for this property
Estimated Payment
$4,355.81/mo
Includes CMHC insurance ($23,687)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Downtown Toronto / Waterfront
Downtown Toronto / Waterfront is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Downtown Toronto / Waterfront
- •Convenient location in Downtown Toronto / Waterfront
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Downtown Toronto / Waterfront offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
1001 Bay Street Unit 403, Downtown Toronto / Waterfront
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $849/sqft, this property is priced in line with current Downtown Toronto market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Market Position
At 45 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
Investment Perspective
Looking at this as an investment: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,538 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.