$849,900 - 253 Wellesley Street Unit C, Cabbagetown
Condo for Sale in Cabbagetown
38 days on market- MLS Number
- C13111416
- Property Type
- Condo
- Status
- active
- Days on Site
- 38
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,000 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Locker
- Exclusive
- Exposure
- North
- Balcony
- None
- Listing Brokerage
- RE/MAX PROFESSIONALS INC.
Character and charm! Welcome to "The Mansion" at 253 Wellesley St E. A converted Victorian Mansion in the heart of Cabbagetown. This is your exclusive chance to call home to 1 of only 5 units in the Building. *First unit available for sale in the last 7 years!* Unit C is a 2-storey, 2-bedroom, 2-bathroom unit and is located on the upper 2 Floors of the building and features approximately 1070 square feet of functional living space. The main floor features soaring 10-foot ceilings with large windows, hardwood flooring, a large open concept living and dining room, an updated kitchen and a convenient powder room. The upper level has 2 bedrooms featuring all new white oak hardwood flooring, *brand new 3-piece washroom with marble flooring, shower with custom glass door and vanity- simply stunning! Take the virtual tour. This condo is truly unique, perfect for professional/couple, young family, down-sizers, first-time buyers + more. Ton of upgrades throughout featuring custom built-in closets throughout the unit, new and highly efficient heat pump with forced air heating and cooling. All new windows, freshly painted + more. *Unit C also includes 1 underground parking and large locker/storage room.* Friendly residents and meticulous landscape. This condominium is very well managed and maintained, includes the Mansion and 6 townhouses at the rear of property sharing an eloquent and picturesque outdoor garden + patio area. Located in the desirable community of Cabbagetown home to a unique blend of historic charm, Victorian architecture, a tight-knit community atmosphere, and excellent proximity to downtown amenities and green spaces. Vibrant local amenities along Parliment St and others offering a variety of local businesses, grocery stores, butcher shops, cafes, diverse restaurants and eateries, and unique boutiques. Easy access to Transit, close to the Financial and Entertainment District and conveniently close to Recreation areas -Riverdale Park and Farm and much more
Estimate your monthly payments for this property
Estimated Payment
$4,360.43/mo
Includes CMHC insurance ($23,712)
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.
253 Wellesley Street Unit C, 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 $850/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.
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 $3,541 (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.