$849,000 - 298 Jarvis Street Unit Up PH 3, Cabbagetown
Condo for Sale in Cabbagetown
72 days on market- MLS Number
- C12966456
- Property Type
- Condo
- Status
- active
- Days on Site
- 72
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,000 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Locker
- Owned
- Exposure
- North East
- Balcony
- Terrace
- Listing Brokerage
- FOREST HILL REAL ESTATE INC.
Welcome to the Upper Penthouse in the prestigious Metropolitan Essex building at 298 Jarvis Street, Toronto! This stunning corner unit boasts a perfectly designed split-bedroom floor plan featuring 2 bedrooms plus a den, delivering both luxury and functionality. Unique to this exclusive suite are soaring 9-foot smooth ceilings, not one but two private walkout terraces, and two beautifully maintained functional wood-burning fireplaces providing both charm and warmth.The den is a showstopper with its 15-foot glass ceilings, creating a glorious greenhouse-inspired feature, bathed in natural light. Modern upgrades are found throughout the home, including pot lights, contemporary finishes, and meticulous attention to detail. Enjoy the spacious layout and flow designed for both entertaining and personal retreat.This is a rare opportunity to experience upscale living in the heart of Toronto, a perfect blend of luxury, natural light, and thoughtful design. Don't miss out on this unique offering in a coveted address! Maintenance Fees Include Utilities. Indoor and outdoor furniture can be negotiated separately
Estimate your monthly payments for this property
Estimated Payment
$4,355.81/mo
Includes CMHC insurance ($23,687)
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.
298 Jarvis Street Unit Up PH 3, 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 $849/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.
Negotiation Opportunity
At 72 days on site, this property has exceeded the typical selling timeline for Cabbagetown. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
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.
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 $3,538 (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.