$599,900 - 140 Simcoe Street Unit 702, Downtown Toronto
Condo for Sale in Downtown Toronto
48 days on market- MLS Number
- C13067478
- Property Type
- Condo
- Status
- active
- Days on Site
- 48
- Bedrooms
- 2
- Bathrooms
- 1
- Square Feet
- 600 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Exclusive
- Exposure
- West
- Balcony
- Open
- Listing Brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES HEAPS ESTRIN TEAM
Suite 702 at University Plaza - a thoughtfully designed 2-bedroom condo in the heart of Toronto's Financial District, complete with the rare convenience of owned parking and locker. Spanning approximately 700 sq ft, this well-proportioned suite offers an efficient open-concept layout that maximizes both space and functionality. The combined living and dining area extends to a private balcony, bringing in natural light and creating a comfortable setting for everyday living or entertaining. The kitchen is equipped with granite countertops, stainless steel appliances, and ample cabinetry, making it as practical as it is stylish. Configured as a junior 2-bedroom layout, it's perfect for those looking for a secondary space but need more than just a Den or a nook. The smart floor plan makes this suite equally appealing for end-users and investors seeking strong downtown rental demand. Residents of University Plaza enjoy a well-managed building with a boutique residential feel and desirable amenities including 24-hour concierge, fitness centre, party/meeting room, and rooftop terrace. Perfectly positioned in the downtown core, you are just steps to Osgoode Station, the Financial District, UHN hospitals, OCAD, Queen West, King West, the Entertainment District, and PATH access. Dining, culture, transit, and nightlife are all within easy reach. A rare opportunity to own in a building where residents truly love to live, in one of Toronto's most connected and vibrant neighbourhoods.
Estimate your monthly payments for this property
Estimated Payment
$3,077.80/mo
Includes CMHC insurance ($16,737)
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.
140 Simcoe Street Unit 702, Downtown Toronto / Waterfront
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Rental income estimator & ROI calculator
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 $1000/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.
Negotiation Opportunity
At 48 days on site, this property has exceeded the typical selling timeline for Downtown Toronto. 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 600 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: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,500 (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.