$998,000 - 287 Richmond Street Unit 304, Cabbagetown
Condo for Sale in Cabbagetown
- MLS Number
- C13177602
- Property Type
- Condo
- Status
- active
- Days on Site
- 23
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,200 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Locker
- Owned
- Exposure
- West
- Balcony
- Terrace
- Listing Brokerage
- HARVEY KALLES REAL ESTATE LTD.
Welcome to the PENTHOUSE at 287 Richmond St. E. a refined LOFT residence within a boutique building in the heart of downtown Toronto, offering a sophisticated blend of architectural character, thoughtful design, and elevated urban living, complete with 1 surface parking space, 1 locker & rooftop deck. Seller may consider selling furnished turnkey. This exceptional residence showcases a high-end renovation completed in 2017, featuring luxurious finishes throughout, soaring ceiling heights, dramatic wall-to-wall windows, custom millwork, designer lighting, hardwood flooring, and a seamless connection to a private rooftop terrace designed for true indoor-outdoor living. The open-concept living area is anchored by a striking gas fireplace with a custom porcelain surround and Corinthia Hotel London-inspired shelving with integrated storage. Curated lighting and expansive glazing create a warm yet dramatic atmosphere ideal for both everyday living and entertaining. The kitchen is warm, functional, and beautifully appointed, featuring a gas stove, breakfast island with seating, custom cabinetry, painted glass backsplash, and a bespoke pine built-in breakfast table. Adjacent is a custom butler's pantry with a wine fridge, additional storage, and prep space, perfectly designed for hosting and entertaining. The upper-level loft bedroom serves as a private retreat with hardwood flooring, skylights, track lighting, a walk-in closet with pocket doors, and direct walkout access to the spectacular rooftop terrace-an elevated outdoor living space ideal for dining, relaxing, or entertaining above the city. The ensuite bathroom is elegantly finished with a glass-enclosed shower, skylight, built-in storage, and refined detailing throughout. Ideally located steps from St. Lawrence Market, the Distillery District, top restaurants, cafés, and downtown amenities, this penthouse offers a rare opportunity to experience boutique loft living in one of Toronto's most vibrant neighbourhoods.
Estimate your monthly payments for this property
Estimated Payment
$5,120.26/mo
Includes CMHC insurance ($27,844)
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.
287 Richmond Street Unit 304, 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 $832/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 23 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 $4,158 (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.