$22,000/mo - 183 Wellington Street Unit 4502, Downtown Toronto
Condo for Rent in Downtown Toronto
- MLS Number
- C13161722
- Property Type
- Condo
- Status
- active
- Days on Site
- 25
- Bedrooms
- 3
- Bathrooms
- 3
- Square Feet
- 2,500 - 2,999 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- North
- Balcony
- None
- Listing Brokerage
- RE/MAX REALTRON BARRY COHEN HOMES INC.
Elevated above the city in one of Toronto's most iconic addresses, this sprawling executive residence at the Ritz-Carlton offers approximately 2,525 sq.ft. of refined luxury and effortless sophistication. Floor-to-ceiling windows frame breathtaking north-facing city views, while expansive principal rooms, timeless finishes, and hotel-inspired living create a residence that feels both grand and intimate. Residents enjoy a dedicated private entrance, separate from the hotel, while still benefiting from an unmatched collection of five-star amenities including an indoor saltwater pool, hot tub, sauna, steam room, dual fitness centres, and an exclusive sky lobby complete with an outdoor terrace and BBQ area. White-glove services such as 24-hour concierge, valet parking, room service, and direct-to-suite grocery and package delivery elevate everyday living. Complete with two-car parking and a locker, this is sophisticated city living at its finest. The The Ritz-Carlton Toronto lifestyle extends far beyond the residence itself - it is defined by privacy, security, and effortless luxury.
Estimate your monthly payments for this property
Estimated Payment
$112.87/mo
Includes CMHC insurance ($614)
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.
183 Wellington Street Unit 4502, Downtown Toronto / Waterfront
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How this lease stacks up against the local rental market
Estimated Monthly Budget
Things to Confirm Before Signing
· Are utilities included, or separate?
· How many parking spots are included?
· Is the landlord open to a 1-year or 2-year lease?
· Are pets and small renovations (paint, hooks) allowed?
· When was the last rent increase, if there is a prior tenant?
Utility estimates are approximate and vary by season, habits, and what the landlord includes. Always confirm inclusions with the listing agent.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Above Market Rent
At $22,000/mo, this is asking above the typical 3-bedroom rent of ~$3,500/mo in Downtown Toronto. That premium needs to be justified — newer finishes, included parking, a premium location, or utilities included. I'll help you assess whether it's worth it or whether there's room to negotiate.
Market Position
At 25 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.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Lease Terms to Negotiate
Don't just focus on the monthly rent — the lease terms matter just as much. I always advise my rental clients to clarify: what's included (parking, storage, utilities), the lease length options, the landlord's policy on renewals, and whether small personalizations like painting are permitted. These details can make or break your experience over 12–24 months.