$505,000 - 228 Queens Quay Unit 1501, Downtown Toronto
Condo for Sale in Downtown Toronto
33 days on market- MLS Number
- C13118836
- Property Type
- Condo
- Status
- active
- Days on Site
- 33
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 500 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- None
- Exposure
- North
- Balcony
- Open
- Listing Brokerage
- REAL BROKER ONTARIO LTD.
Welcome to an incredible opportunity to step into homeownership in the heart of the city. This bright and spacious unit features a smart, functional layout designed for easy everyday living, complemented by 9-foot ceilings and expansive floor-to-ceiling windows that fill the space with natural light. Step out onto your private balcony - perfect for your morning coffee or unwinding at the end of the day - while taking in breathtaking views of Toronto's iconic skyline and the CN Tower.The kitchen is thoughtfully equipped with stainless steel appliances, granite countertops, and ample storage, offering the perfect balance of style and practicality whether you're cooking at home or entertaining guests. Even better, all utilities are included in the condo fees, helping you manage your monthly expenses with confidence - an added advantage for first-time buyers.Location truly sets this home apart. You're just steps to shops, TTC, Union Station, the Financial District, waterfront trails, the harbour, and some of the city's best sports and entertainment venues, making both commuting and enjoying the city effortless. For travelling professionals, you'll appreciate being just 5 minutes from Billy Bishop Airport - making quick getaways and business travel incredibly convenient. Residents also enjoy access to excellent building amenities including an indoor pool, fully equipped gym, BBQ area, and guest suites - providing added convenience and flexibility without ever having to leave home. This is a fantastic place to begin your real estate journey in a vibrant, well-connected neighbourhood.
Estimate your monthly payments for this property
Estimated Payment
$2,590.91/mo
Includes CMHC insurance ($14,090)
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.
228 Queens Quay Unit 1501, 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 $1010/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 33 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.
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 $2,104 (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.