$495,000 - 22 Wellesley Street Unit 2002, Cabbagetown
Condo for Sale in Cabbagetown
38 days on market- MLS Number
- C13106194
- Property Type
- Condo
- Status
- active
- Days on Site
- 38
- Bedrooms
- 2
- Bathrooms
- 1
- Square Feet
- 500 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Locker
- Owned
- Exposure
- South
- Balcony
- Open
- Listing Brokerage
- SOTHEBY'S INTERNATIONAL REALTY CANADA
Enjoy unobstructed panoramic south-facing city views from this bright 1-bedroom + den suite, complete with parking and locker, in one of downtown Toronto's most convenient and connected locations.Just steps to Wellesley Station, Yonge Street, restaurants, cafés, bars, TMU, U of T, the Eaton Centre, and Yorkville, this location offers the best of downtown living with TTC Line 1 subway access literally at your doorstep.The corner kitchen features newer full-size appliances in excellent condition and ample storage space. South-facing floor-to-ceiling windows flood the suite with natural light and showcase impressive skyline views. A generously sized balcony extends the living space outdoors and includes a natural gas BBQ hookup. The den includes bi-fold doors, lighting, and a ceiling fan, making it ideal as a guest room, home office, or flexible living space.Building amenities include concierge service, fitness centre, sauna, outdoor hot tub, BBQ area, and guest suites. Maintenance fees include water, with a modest 2025 increase of just 3.66%.Perfect for first-time buyers, professionals, or investors seeking a downtown lifestyle with the rare combination of parking, locker, transit convenience, and exceptional city views.
Estimate your monthly payments for this property
Estimated Payment
$2,539.61/mo
Includes CMHC insurance ($13,811)
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.
22 Wellesley Street Unit 2002, 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 $990/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.
Market Position
At 38 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.
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.
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.