$548,000 - 138 Downes Street Unit 4909, Cabbagetown
Condo for Sale in Cabbagetown
50 days on market- MLS Number
- C13056500
- Property Type
- Condo
- Status
- active
- Days on Site
- 50
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 500 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Locker
- None
- Exposure
- South West
- Balcony
- Open
- Listing Brokerage
- BAY STREET GROUP INC.
The Iconic Sugar Wharf Condominiums By Menkes! 1 Bedroom Unit with Lake and City Views. Floor-to-Ceiling Windows, 9-Foot Ceilings. Sleek Open-Concept Kitchen with Built-In Miele Appliances. Engineered hardwood floors, quartz countertops. State-of-the-Art Fitness Centre, Indoor Swimming Pool, Party/Meeting Room, Theatre Retreat, Rooftop Terrace with BBQ Area, 7/ 24-hour Security, and Much More. Located on East Bayfront Toronto Waterfront, only Ten Minute Walk to Union Subway Station, with Direct Access to Future P. A.T. H. Steps from Lake Ontario, Sugar Beach, Water's Edge Promenade. Restaurants, LCBO, Loblaw, Farm Boy Supermarket, Trails, and Parks. Locker Included. This fast-growing neighborhood includes East Bayfront's bustling innovation corridor, anchored by the Waterfront Innovation Centre. Nearby TTC bus stop on Queens Quay East to downtown Toronto, 5 mins drive to Gardiner Expressway!
Estimate your monthly payments for this property
Estimated Payment
$2,811.52/mo
Includes CMHC insurance ($15,289)
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 Regent Park / Cabbagetown / St. James Town
Regent Park / Cabbagetown / St. James Town 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 Regent Park / Cabbagetown / St. James Town
- •Convenient location in Regent Park / Cabbagetown / St. James Town
- •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
Regent Park / Cabbagetown / St. James Town 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.
138 Downes Street Unit 4909, Regent Park / Cabbagetown / St. James Town
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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 $1096/sqft, this property is priced in line with current Cabbagetown 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.
Negotiation Opportunity
At 50 days on site, this property has exceeded the typical selling timeline for Cabbagetown. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
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.
Efficient Living
At 500 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
Investment Perspective
Looking at this as an investment: Cabbagetown properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,283 (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.